We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Vanguard: New Minimum Monthly Account charge

Options
1222325272834

Comments

  • Manu08manu
    Manu08manu Posts: 12 Forumite
    Fourth Anniversary 10 Posts
    edited 13 January at 2:34PM
    Hoenir said:
    Is anyone else experiencing delays with transferring out of Vanguard? Today marks 30 days since I initiated my transfer (the target timeframe for ISA transfers), but nothing has been completed. My new provider sent a follow-up request to Vanguard a week ago, and it seems no action has been taken. It looks like I'll be seeking delay compensation, but I'm not entirely sure how that process works. Has anyone else been through this?
    Working time lost over the Xmas / New Year period ?  Starting any process shortly before Xmas is unfortunately likely to be delayed. 
    The Govenment Website, says "30 calendar days". so I believe it is a legal requirement. 
  • Manu08manu
    Manu08manu Posts: 12 Forumite
    Fourth Anniversary 10 Posts
    Does anyone know who I should contact to resolve this transfer? I have a feeling Vanguard is delaying the transfer, despite being legally required to process it. Should I be directing my complaint to Vanguard, or is it something the new provider should handle? Any advice would be appreciated
  • eskbanker
    eskbanker Posts: 37,036 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Does anyone know who I should contact to resolve this transfer? I have a feeling Vanguard is delaying the transfer, despite being legally required to process it. Should I be directing my complaint to Vanguard, or is it something the new provider should handle? Any advice would be appreciated
    It's the new provider who retains overall responsibility for the process, so you need to be dealing with them, even if you suspect that it's the other one causing the delay.

    As you say, the regulations do require transfers to be completed within 30 days, but realistically it does often take more than this for a variety of reasons, and it's often difficult to ascertain which party is more blameworthy than the other....
  • equitydealer
    equitydealer Posts: 353 Forumite
    Part of the Furniture 100 Posts Combo Breaker
    I’m in the process of transferring out of Vanguard and whilst following up on progress I’ve been unexpectedly added into a very long email thread concerning my transfer. My new provider sent several chasers (it’s actually to an outfit called FNZ and not Vanguard) who ignored each email sent by my new provider. Don’t expect much speed from Vanguard/FNZ, I guess they are swamped with transfer out requests. 
  • Hoenir
    Hoenir Posts: 7,742 Forumite
    1,000 Posts First Anniversary Name Dropper
    Hoenir said:
    Is anyone else experiencing delays with transferring out of Vanguard? Today marks 30 days since I initiated my transfer (the target timeframe for ISA transfers), but nothing has been completed. My new provider sent a follow-up request to Vanguard a week ago, and it seems no action has been taken. It looks like I'll be seeking delay compensation, but I'm not entirely sure how that process works. Has anyone else been through this?
    Working time lost over the Xmas / New Year period ?  Starting any process shortly before Xmas is unfortunately likely to be delayed. 
    The Govenment Website, says "30 calendar days". so I believe it is a legal requirement. 
    Sometimes one has to apply common sense. 
  • Manu08manu
    Manu08manu Posts: 12 Forumite
    Fourth Anniversary 10 Posts

    I spoke to my new ISA provider about my transfer, and they clarified that the 30-calendar-day process starts from the date of valuation. This means I’m still within the 30-day timeframe.

    However, they mentioned they’ve had to resubmit the transfer application for some reason, and they’ve opened something called a "Service Maintenance Tool" to investigate the issue further.

  • Chadsman
    Chadsman Posts: 1,113 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    edited 26 January at 11:45PM
    I'd appreciate a sanity check for my plan.
    My Vanguard ISA is now worth around £95k and even though I will not be affected the fee redesign has prompted me to look at saving on fees. I was thinking of moving to Halifax and setting up a regular investment plan. Halifax charge a flat platform fee of £36 per year and there is no charge for investing via a regular saving plan
    Is there any flaw in this?
    Does anyone have any experience or opinion on Halifax for investments?
    God save the King!
    I'll save Winston Churchill, Jane Austen, J. M. W. Turner and Alan Turing.
  • GeoffTF
    GeoffTF Posts: 2,021 Forumite
    1,000 Posts Third Anniversary Photogenic Name Dropper
    iWeb, Halifax, Lloyds and BOS are all essentially the same account operated by the same staff, but with minor differences and different pricing. All four brands have a good reputation. I have had an iWeb account for over 10 years.
  • Chadsman
    Chadsman Posts: 1,113 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Can I buy fractional shares with Halifax?
    TIA.
    God save the King!
    I'll save Winston Churchill, Jane Austen, J. M. W. Turner and Alan Turing.
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 350.9K Banking & Borrowing
  • 253.1K Reduce Debt & Boost Income
  • 453.5K Spending & Discounts
  • 243.9K Work, Benefits & Business
  • 598.7K Mortgages, Homes & Bills
  • 176.9K Life & Family
  • 257.2K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.