Open banking / ISA transfer

bear.1973

Hi, anyone having problems trying to use both Moneybox and ,or Plum platform? The rates for EA ISA are really good but they both managed by app that links and connects to chosen bank account. The issue i have is Santander don't recognise these platforms on their open banking system so I've no way of transferring the money across via an instant bank transfer. I've tried every trouble shoot thy suggest, and i was on to Santander tonight 1hr 43 mins as they tried to resolve it, they couldn't and its now gone to their tech team to explore further. Every time money box or plum try to link to my bank, the bank app opens but then displays an error message saying 'oops something has gone wrong, and gives option to cancel and go back. I'm about to give up on it as losing quite a bit of interest whilst thy figure it all out! any suggestions?

masonic

You could try a different bank if you have other current accounts. I have not had any problems with Plum, but have never attempted to link a Santander account.

Is the use of Open Banking for the transfer a requirement?

bear.1973

I don’t have another bank. Apparently so, according to Moneybox. 🤷‍♀️

Qyburn

For an ISA transfer you shouldn't be paying in or out via current account or any other. The new ISA provider pulls directly from the old.

Doing it via your current account would (a) limit the "transfer" to £20k and (b) lose this year's allowance.

bear.1973

Yes I’m aware of that thanks 🙂, I’m trying to put some savings in as well as transferring isa. 

masonic

bear.1973 said:

I don’t have another bank. Apparently so, according to Moneybox. 🤷‍♀️

Moneybox is not going to know about other accounts you hold that you haven't told them about. Best rely on your own recollection.