Principality BS timings

[Deleted User]

Thanks everyone, it is good to hear the withdrawals can be done on the same day, as I was considering keeping some funds in a lower paying ISA in case of emergency (I may still leave some in another flexible "instant instant" in the case of a mega emergency, but not as much!).

I saw someone post about Chip, I have closed an account with them in the past when obtaining a "beer money" style referral, I was not a fan of having to take steps to avoid funds being lifted by open banking so closed it down. I also prefer to deposit directly with the bank or building society unless it is a very trivial amount.

[Deleted User]

As for the activation code, it did not come on Saturday. I will give it until Wednesday (at a push!) but it was meant to arrive on Friday.

refluxer

surreysaver said:

35har1old said:

surreysaver said:

I did a test withdrawal from my ISA with them last week on either Saturday or Sunday. It did turn up in my current account the same day, even though the T&Cs say the next working day if you make the transaction after 15.30 on a weekday.
You probably wouldn't want to rely on that, though 

If in the future you want to transfer to another provider you might find you will have to submit a paper request rather than a digital one 

I think its only if I want to transfer to Principality I have to manually fill in a form and manually go to a post box? Transferring from Principality should be okay electronically?

As mentioned above, both ISA providers need to use the BACs ISA transfer service for ISA funds to be transferred electronically so, because Principality don't, transfers both in and out do have to be done using paper transfer forms in the post.

To give you an idea of timescales for when the time comes - I've transferred Principality ISAs to a couple of different ISA providers who do use that service in the past and, in those cases, the time between posting the transfer forms off and the funds being credited was around 2 weeks (10 working days) for one and a few days longer for the other, so both were within the government's 15 working day window. The state of the postal service at the time and efficiency of the receiving ISA provider will obviously have an effect on this though !

[Deleted User]

One thing to mention is that as the Principality ISA is flexible, if you wanted to move this years subs elsewhere you can just withdraw the money and put it in the other ISA.

[Deleted User]

Nothing in the post today either, I have to admit I’m wondering if I might have been better off going with a slightly more technical provider!