Nationwide / Shawbrook maturing ISA's outward timescales

savit4l8er

Two ISA 's matured recently, N/Wide and Shawbrook.  Nationwide converted to a maturity ISA on the day advised, the maturity day. Several institutions in the mix for transfers out.  All pre arranged transfers arrived at their new destination the 2nd day after maturity.

Shawbrook maturity date, ISA still showed the same as the day before. no interest added.  It changed to a maturity account the next day with interest added. That is simply their process and might be helpful to others. A transfer out request was confirmed as received pre maturity and placed in pending followed by an official acceptance of the transfer out three days after maturity.  Five days later the funds are still at Shawbrook. It's a shame they didn't action the transfer rather than waste time on an acceptance message. 
Although within the guidelines, having had pre notification of the transfer, it does feel Shawbrook are unnecessarily stalling. I didn't want to waste their time by opening an instant access account to get better interest on maturity, luckily, it's the smaller of the two ISA's.

Well done Nationwide 10 out of 10 for this. 


Edit.

Shawbrook have completed the transfer so maturity + 8. From what I see on here, that's not bad, however it's the longest I have experienced.