St James Place are with holding my money

ANGELANICHOLLS

I applied to move my investment to my Yorkshire Building Society ISA 1st July 2024. The moved the incorrect amount in the region of £33k instead of £125k. Three people on the admin telephone help line admitted it was a St James Place error and confirmed the form was correct. They are now saying it was a computer fault and they cannot give me a timescale as to when my money will be returned. Nobody will engage with me that can confirm how and when it will be resolved. This is causing a great deal of anxiety and stress. How do I escalate the claim to the next level

Voyager2002

You follow their formal complaints process. 

You keep a record of any costs that you face as a result of their mistake and add these costs to your complaint.

eskbanker

It's the receiving provider that needs to deal with any ISA transfer issues, so you need to work with YBS, even if the problem isn't actually at their end.  Not sure what you about escalating a 'claim', it's just a case of the two parties liaising to resolve it - the timeframe for ISA transfers is notionally 30 days but unfortunately problematic ones can take significantly longer.

dunstonh

 They are now saying it was a computer fault and they cannot give me a timescale as to when my money will be returned. Nobody will engage with me that can confirm how and when it will be resolved.

They have answered your question.     You may not like the answer, but repeating the question won't change the answer.

This is causing a great deal of anxiety and stress. 

why?   you are on to a bit of a winner here.  You will get the higher of the value at the date it should have been transferred or what it is when they do transfer it.         Yes, you should be frustrated but anxiety and stress seems a bit over the top.

How do I escalate the claim to the next level

It is not a claim.  it is a transaction that hasn't gone smoothly.   If you are unhappy about that, then you complain to them.