Problems transferring principality ISA

william42

I saved 20k into a principality variable cash ISA last tax year and another 20k this tax year. I now want to transfer the entire balance (40k plus interest) into one of the top one year fixed ISAs, which are as of today with Zopa and Virgin money. 

Having tried this, neither Zopa nor Virgin accept transfers from Principality.

This leads to two questions:

1) Is there any way round this? If not it seems a little unfair, and I may have unwittingly cost myself a lot by choosing Principality ISAs.  

2) Is there any way of finding out which ISA providers, if any, accept transfers from Principality?

badger09

william42 said:

I saved 20k into a principality variable cash ISA last tax year and another 20k this tax year. I now want to transfer the entire balance (40k plus interest) into one of the top one year fixed ISAs, which are as of today with Zopa and Virgin money. 

Having tried this, neither Zopa nor Virgin accept transfers from Principality.

This leads to two questions:

1) Is there any way round this? If not it seems a little unfair, and I may have unwittingly cost myself a lot by choosing Principality ISAs.  

2) Is there any way of finding out which ISA providers, if any, accept transfers from Principality?

I can’t comment on ZOPA, but why do you say Virgin doesn’t accept transfers from Principality?
It may be that you can’t initiate the transfer online because Principality don’t participate, but you can certainly do it by completing & posting Virgin’s xfer form. 

william42

badger09 said:

william42 said:

I saved 20k into a principality variable cash ISA last tax year and another 20k this tax year. I now want to transfer the entire balance (40k plus interest) into one of the top one year fixed ISAs, which are as of today with Zopa and Virgin money. 

Having tried this, neither Zopa nor Virgin accept transfers from Principality.

This leads to two questions:

1) Is there any way round this? If not it seems a little unfair, and I may have unwittingly cost myself a lot by choosing Principality ISAs.  

2) Is there any way of finding out which ISA providers, if any, accept transfers from Principality?

I can’t comment on ZOPA, but why do you say Virgin doesn’t accept transfers from Principality?
It may be that you can’t initiate the transfer online because Principality don’t participate, but you can certainly do it by completing & posting Virgin’s xfer form. 

Aha, thank you! I cannot transfer it online, but was not aware of the postal form.

badger09

william42 said:

badger09 said:

william42 said:

I saved 20k into a principality variable cash ISA last tax year and another 20k this tax year. I now want to transfer the entire balance (40k plus interest) into one of the top one year fixed ISAs, which are as of today with Zopa and Virgin money. 

Having tried this, neither Zopa nor Virgin accept transfers from Principality.

This leads to two questions:

1) Is there any way round this? If not it seems a little unfair, and I may have unwittingly cost myself a lot by choosing Principality ISAs.  

2) Is there any way of finding out which ISA providers, if any, accept transfers from Principality?

I can’t comment on ZOPA, but why do you say Virgin doesn’t accept transfers from Principality?
It may be that you can’t initiate the transfer online because Principality don’t participate, but you can certainly do it by completing & posting Virgin’s xfer form. 

Aha, thank you! I cannot transfer it online, but was not aware of the postal form.

Before you post it, keep a copy😉

refluxer

Unfortunately, the Principality BS don't use the BACs ISA transfer service so transfers both to and from them will involve using paper forms.

While most ISA providers do accept transfers-in either online or via paper forms through the post, there are some who only do it online (to keep costs/hassle down, presumably).

In the past, I've transferred from Principality to both Santander and Barclays without issues - the transfers just took a little longer than when carried out online (a week or two rather than a few days). 

For future info, this is Shawbrook's list of banks who use the BACs ISA transfer service. If both the sending and receiving provider are on this list, then ISA transfers should take place wholly online and therefore be quicker than if one or other isn't on the list.