ISA Transfer in to Moneybox

TheChoralFiend

My ISA is being transferred to Moneybox. However, Moneybox asked me to specify how much I was transferring in, so I looked at the most recent value and wrote that. Will they transfer it all including the most recent  interest. I don't want to be left with a tiny amount in my old ISA.

cricidmuslibale

@TheChoralFiend  Yes the entire ISA amount including the most recent interest payment should be transferred to Moneybox as long as the most recent value that you wrote down included all the interest that you’ve recently received!

Idpullthecurtain

Who knows.  But you better hope that what happened to me doesnt happen.  When I transferred my ISA in to Moneybox they lost it all for 2 months because they claim the amount was different to what they expected.

refluxer

TheChoralFiend said:

My ISA is being transferred to Moneybox. However, Moneybox asked me to specify how much I was transferring in, so I looked at the most recent value and wrote that. Will they transfer it all including the most recent  interest. I don't want to be left with a tiny amount in my old ISA.

In my experience - when there is an option to do a partial or full transfer-in, requesting a partial transfer should involve giving them an exact figure of the amount you wish to transfer and requesting a full transfer involves giving them an estimate (and this is normally stated as such on the transfer form, often with a statement that the old ISA will be closed). 

An estimate is needed for a full transfer because interest would need to be added to the current balance up until the day of the transfer, meaning that you can't give an accurate figure at the time of the transfer request.   

FB13

Idpullthecurtain said:

Who knows.  But you better hope that what happened to me doesnt happen.  When I transferred my ISA in to Moneybox they lost it all for 2 months because they claim the amount was different to what they expected.

If we are sharing random personal anecdotes, I have done four transfers into Moneybox, both full and partial, and never had a problem. My Santander to Moneybox transfer last week was completed in less than 24 hours (plus the extra day for Moneybox to transfer the money after they received it). 

For full transfers, I do a quick calculation of how much interest has accrued up to the date I submit the transfer form and give Moneybox the total rounded to the nearest £. The other bank isn’t going to keep a small amount of interest if they are told to do a full transfer. 

Idpullthecurtain

FB13 said:

Idpullthecurtain said:

Who knows.  But you better hope that what happened to me doesnt happen.  When I transferred my ISA in to Moneybox they lost it all for 2 months because they claim the amount was different to what they expected.

If we are sharing random personal anecdotes, I have done four transfers into Moneybox, both full and partial, and never had a problem. My Santander to Moneybox transfer last week was completed in less than 24 hours (plus the extra day for Moneybox to transfer the money after they received it). 

For full transfers, I do a quick calculation of how much interest has accrued up to the date I submit the transfer form and give Moneybox the total rounded to the nearest £. The other bank isn’t going to keep a small amount of interest if they are told to do a full transfer. 

Im not sure "random" anecdotes are what the point is here.  I am sharing a recent example of a huge mistake that was very costly.  That seems extremely relevant and potentially decisive?

eskbanker

Idpullthecurtain said:

FB13 said:

Idpullthecurtain said:

Who knows.  But you better hope that what happened to me doesnt happen.  When I transferred my ISA in to Moneybox they lost it all for 2 months because they claim the amount was different to what they expected.

If we are sharing random personal anecdotes, I have done four transfers into Moneybox, both full and partial, and never had a problem. My Santander to Moneybox transfer last week was completed in less than 24 hours (plus the extra day for Moneybox to transfer the money after they received it). 

For full transfers, I do a quick calculation of how much interest has accrued up to the date I submit the transfer form and give Moneybox the total rounded to the nearest £. The other bank isn’t going to keep a small amount of interest if they are told to do a full transfer. 

Im not sure "random" anecdotes are what the point is here.  I am sharing a recent example of a huge mistake that was very costly.  That seems extremely relevant and potentially decisive?

But the point is that if you're choosing to share a negative story about your own personal experience of transferring into Moneybox then it's perfectly legitimate for someone to share some positive ones, to assist people with making their minds up?