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How long does the money transfer take

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Hello, just looking for a bit of reassurance. I'm in the midst of transferring a pension from L&G to an AJ Bell SIPP. It all seems to be ticking over nicely, but I probably have access to almost too much information because I can see that L&G have now transferred the money out of my account there, but the AJ Bell account is empty.

Anyone know how long I'm likely to be in a situation where my money is in the ether and not in any account owned by me? It's making me nervous!

Comments

  • Roger175
    Roger175 Posts: 299 Forumite
    Part of the Furniture 100 Posts Name Dropper Combo Breaker
    I did something very similar last week from Hargreaves Lansdown to A J Bell. From the point the money left HL it took a day for AJB to send an email saying they had received the funds and that they may take one working day to appear on my account, however they were showing by the end of the same day.
  • dunstonh
    dunstonh Posts: 119,646 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    L&G send the money to AJ Bell using BACs or cheque.   So, that is up to three days.   
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • dander
    dander Posts: 1,824 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    thank you so much - that's very reassuring. 
  • Roger175
    Roger175 Posts: 299 Forumite
    Part of the Furniture 100 Posts Name Dropper Combo Breaker
    edited 17 June 2024 at 1:52PM
    dander said:
    thank you so much - that's very reassuring. 
    Yes, there's always that concerning bit in the middle when the funds don't appear on either platform!!
  • Sarahspangles
    Sarahspangles Posts: 3,239 Forumite
    Tenth Anniversary 1,000 Posts Name Dropper
    edited 17 June 2024 at 4:02PM
    I moved a pot between the same providers last spring, it left L&G on 23rd (a Thursday) and was with AJB on 27th (a Tuesday)
    Fashion on the Ration
    2024 - 43/66 coupons used, carry forward 23
    2025 - 62/89
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