Trading 212 Cash ISA - Impossible to transfer ISA out!

Isarulesaretoocomplex

creo said:

I know that, but it just looks like its taking some time and they dont understand the process? Some banks not accepting transfers from them? They don't seem like big deals to me. The title of the thread is "impossible" to transfer out.

Twice in 4 weeks I've tried to transfer out of 212 and nothing has occurred. Like I said yesterday to the poster with the sarcasm I'm thinking of just withdrawing it and investing elsewhere. For some reason some of these recent companies offering the higher flexibility easy access accounts take your money then reduce the rates and leave a questionable option when you go to transfer out. Ubl for eg I tried to open an account yesterday as they offer the option of transfer in from 212 but all day their system wouldn't allow me to register and subsequently later that day thry reduced their rate. Something doesn't sit right 

Isarulesaretoocomplex

Update on isa transfer from 212..found a 1 year fixed 4.3 at Newcastle building society until June 26th 26. Went into the branch filled in the forms including the transfer from 212 which they post to them. Fingers crossed it's sorted within the 15 days and less of an issue for the sake of .2%. 

friolento

In case it's not too late: If you have at least £10k, you might be able to transfer to Monument Bank, who have just started to accept transfer-in requests.They have a very long list of ISA providers they can transfer from. I can't confirm for certain that T212 is on the list as you can only see the list when you don't have an active transfer request (which I now have) but there's a good chance T212 is on the list. Nice 4.76% AER, too.

Isarulesaretoocomplex

friolento said:

In case it's not too late: If you have at least £10k, you might be able to transfer to Monument Bank, who have just started to accept transfer-in requests.They have a very long list of ISA providers they can transfer from. I can't confirm for certain that T212 is on the list as you can only see the list when you don't have an active transfer request (which I now have) but there's a good chance T212 is on the list. Nice 4.76% AER, too.

Thanks for that. The 4.76 is variable but I've decided on fixing my rates. Nbs was very favourable rate wise and the option of face to face if necessary. I've managed a renewal with cynergy at 4.56 fix and renewal with oak north at 4.51 so all in all not too bad an outcome. 

bripat

friolento said:

In case it's not too late: If you have at least £10k, you might be able to transfer to Monument Bank, who have just started to accept transfer-in requests.They have a very long list of ISA providers they can transfer from. I can't confirm for certain that T212 is on the list as you can only see the list when you don't have an active transfer request (which I now have) but there's a good chance T212 is on the list. Nice 4.76% AER, too.

Yes T212 is on the list .

nomorekids

If I transfer from T212 to monument, it will close trading completely and like moneybox, wont be able to open another trading account again       anyone excepting partial transfers from trading without having to do it via manual form? preferably the quickest as monument have a 30 day funding window?

unclebatman

Like many others, I'm looking to go down the fixed rate route and transfer out of Trading 212, and into Lloyds. 

I'm being told that as T212 don't trade digitally (!!!!!!?) I must have a form posted to me (3-5 business days) for me to post back (3-5 business days) for Lloyds to then post to T212 (another 3-5 business days) 

So, assuming Royal Mail don't !!!!!! things up, I'm looking at the end of April before T212 even receive a ink completed and physically signed piece of paper to commence my transfer. 

I've reminded Lloyds that it's the year 2025 but they're adamant this is the most efficient way!!!?

Surely, SURELY there has to be a better way? Anyone?

Daz2009

unclebatman said:

Like many others, I'm looking to go down the fixed rate route and transfer out of Trading 212, and into Lloyds. 

I'm being told that as T212 don't trade digitally (!!!!!!?) I must have a form posted to me (3-5 business days) for me to post back (3-5 business days) for Lloyds to then post to T212 (another 3-5 business days) 

So, assuming Royal Mail don't !!!!!! things up, I'm looking at the end of April before T212 even receive a ink completed and physically signed piece of paper to commence my transfer. 

I've reminded Lloyds that it's the year 2025 but they're adamant this is the most efficient way!!!?

Surely, SURELY there has to be a better way? Anyone?

Shawbrook sent me the form via email and I signed it in a pdf editor and sent it back all within an hour.Astonishing that Lloyds can't/won't do that

keiran

keiran said:

When I transferred cash ISAs INTO Trading212 from Virgin, it happened the next day (or day after).
When I attempted to transfer FROM Trading212 to Moneybox, it started on 26 March and still hasn't completed. 
Apparently Trading 212 have now sent the money but say it could take up to 3 days...

Apparently they have 15 days to transfer but surely they're taking the mikey here.
The 3 month bonus on the Moneybox account now becomes a 2.5(or less)  month bonus 

And surely when/if I query it, each provider will blame the other one......

Trading212 did transfer my cash ISA on Monday, having added that day's interest. And Moneybox showed the transferred cash ISA on my app on Thursday, with the first interest payment added on Friday.

So I'm missing 3 days' interest on my transferred amount , equivalent to about £30.

As payments are made by faster payments these days, how can this be countenanced? 

Clearly this is a general issue that could affect millions of cash Isa transfers per year. Should there not be guidelines to protect customers here? I appreciate the general rule of a transfer taking "up to 15 days" , but surely that's not good enough?

pecunianonolet

keiran said:

keiran said:

When I transferred cash ISAs INTO Trading212 from Virgin, it happened the next day (or day after).
When I attempted to transfer FROM Trading212 to Moneybox, it started on 26 March and still hasn't completed. 
Apparently Trading 212 have now sent the money but say it could take up to 3 days...

Apparently they have 15 days to transfer but surely they're taking the mikey here.
The 3 month bonus on the Moneybox account now becomes a 2.5(or less)  month bonus 

And surely when/if I query it, each provider will blame the other one......

Trading212 did transfer my cash ISA on Monday, having added that day's interest. And Moneybox showed the transferred cash ISA on my app on Thursday, with the first interest payment added on Friday.

So I'm missing 3 days' interest on my transferred amount , equivalent to about £30.

As payments are made by faster payments these days, how can this be countenanced? 

Clearly this is a general issue that could affect millions of cash Isa transfers per year. Should there not be guidelines to protect customers here? I appreciate the general rule of a transfer taking "up to 15 days" , but surely that's not good enough?

You possibly will miss out again when you transfer out of Moneybox. I have a complaint running with them for exactly that issue. You may be lucky but raise a complaint. if they get enough they may change their practise. 

15 days is no longer fir for this time and age. Should be reduced to 5 days imho