Maturing Virgin Issue 10 but where to now?

allegro120

Aidanmc said:

My Virgin Issue 10 Fixed ISA matures at end of January, trying to find somewhere suitable to transfer to.

Trading 212 - maybe put some there if i can get logged in to create a transfer request (waiting until after maturity first)

Chip/Plum - i dont use app only banks

Mansfield 4.75% - Seeming they only receive ISA transfers by cheque, may be delays resulting in loss of interest, anyone use this ISA wish to share their experience??

Other than that, 4.55% seems best rate even for Fixed ISA's

I'm in the same situation and looking at Trading 212.  Why are you waiting until after maturity first? You have to fund the account within 10 days after registering so I was planning to do it at around 27th-28th January.  I thought it will be better to start earning 5.1% sooner rather than later.
Does anyone know how long the transfer from Virgin to T212 might take?

Aidanmc

allegro120 said:

Aidanmc said:

My Virgin Issue 10 Fixed ISA matures at end of January, trying to find somewhere suitable to transfer to.

Trading 212 - maybe put some there if i can get logged in to create a transfer request (waiting until after maturity first)

Chip/Plum - i dont use app only banks

Mansfield 4.75% - Seeming they only receive ISA transfers by cheque, may be delays resulting in loss of interest, anyone use this ISA wish to share their experience??

Other than that, 4.55% seems best rate even for Fixed ISA's

I'm in the same situation and looking at Trading 212.  Why are you waiting until after maturity first? You have to fund the account within 10 days after registering so I was planning to do it at around 27th-28th January.  I thought it will be better to start earning 5.1% sooner rather than later.
Does anyone know how long the transfer from Virgin to T212 might take?

I already have a Trading 212 account, so just 4.9% there for me.

When making a transfer request on T212, the dont have option 'wait until maturity'

If a transfer request was made before maturity of Virgin ISA, there is a risk the transfer would be processed quickly and if that happened before 31 Jan, it would result in 60 days loss of interest.

From what i have read around the forum some transfers to T212 took as little as 2 days, whereas others took much longer. As for Virgin to 212 i dont know how long it would take.

allegro120

Aidanmc said:

allegro120 said:

Aidanmc said:

My Virgin Issue 10 Fixed ISA matures at end of January, trying to find somewhere suitable to transfer to.

Trading 212 - maybe put some there if i can get logged in to create a transfer request (waiting until after maturity first)

Chip/Plum - i dont use app only banks

Mansfield 4.75% - Seeming they only receive ISA transfers by cheque, may be delays resulting in loss of interest, anyone use this ISA wish to share their experience??

Other than that, 4.55% seems best rate even for Fixed ISA's

I'm in the same situation and looking at Trading 212.  Why are you waiting until after maturity first? You have to fund the account within 10 days after registering so I was planning to do it at around 27th-28th January.  I thought it will be better to start earning 5.1% sooner rather than later.
Does anyone know how long the transfer from Virgin to T212 might take?

I already have a Trading 212 account, so just 4.9% there for me.

When making a transfer request on T212, the dont have option 'wait until maturity'

If a transfer request was made before maturity of Virgin ISA, there is a risk the transfer would be processed quickly and if that happened before 31 Jan, it would result in 60 days loss of interest.

From what i have read around the forum some transfers to T212 took as little as 2 days, whereas others took much longer. As for Virgin to 212 i dont know how long it would take.

Thank you. This makes sense.  I will wait until 1st February.

gele

Aidanmc said:

gele said:

I too have this Virgin ISA maturing at the end of Jan and have a question. I already have an 18 month fix with Shawbrook maturing in Feb 26. If I wanted to transfer the Virgin one into Shawbrook, would it  have to go into the fix I have now with them or would I be allowed to transfer it to a new one with them and therefore hold 2. Thought I would ask here first as unsure how long a reply would take messaging Shawbrook on a weekend. Thanks

They may accept a transfer into the 18 month fixed you already have but they may also refuse,  wait for their reply.

What is the interest rate on the 18m fix?

You can definitely open another fixed rate ISA with them and transfer the maturing Virgin ISA to that. As i understand, transfer requests are made at time of application, just be sure to select 'wait until maturity' if applying before Virgin ISA matures.

The new fixes are actually slightly better than the 18 month one I have as that was opened in Aug 24 when rates were falling and looked then like they might fall further. So my preference would be to put this Virgin money into one of their newer released ISAs

fuzzzzy

gele said:

I too have this Virgin ISA maturing at the end of Jan and have a question. I already have an 18 month fix with Shawbrook maturing in Feb 26. If I wanted to transfer the Virgin one into Shawbrook, would it  have to go into the fix I have now with them or would I be allowed to transfer it to a new one with them and therefore hold 2. Thought I would ask here first as unsure how long a reply would take messaging Shawbrook on a weekend. Thanks

Be careful on the transfer request form to transfer from Virgin to Shawbrook. I did a partial transfer last week from my matured Virgin ISA to Shawbrook and noticed on the transfer request document that appeared in the online portal that the request transfer amount said £0. I phoned them up and the glitch was due to me selecting Virgin Money as the ceding bank rather than Yorkshire Bank (my Virgin account had the 050005 sort code). They filled me in a new request form over the phone and it appeared in my online documents later that day.

gele

fuzzzzy said:

gele said:

I too have this Virgin ISA maturing at the end of Jan and have a question. I already have an 18 month fix with Shawbrook maturing in Feb 26. If I wanted to transfer the Virgin one into Shawbrook, would it  have to go into the fix I have now with them or would I be allowed to transfer it to a new one with them and therefore hold 2. Thought I would ask here first as unsure how long a reply would take messaging Shawbrook on a weekend. Thanks

Be careful on the transfer request form to transfer from Virgin to Shawbrook. I did a partial transfer last week from my matured Virgin ISA to Shawbrook and noticed on the transfer request document that appeared in the online portal that the request transfer amount said £0. I phoned them up and the glitch was due to me selecting Virgin Money as the ceding bank rather than Yorkshire Bank (my Virgin account had the 050005 sort code). They filled me in a new request form over the phone and it appeared in my online documents later that day.

Thanks. That's really useful to know. So just to clarify, is the transfer request document on Virgin or Shawbrook portal. I understood that the request was made to transfer in with your new provider so that would be Shawbrooks portal ? I have been lucky in the past and have always been happy to reinvest a maturing ISA with the same provider so have not had to do external transfer requests 

fuzzzzy

Yes, in the Shawbrook portal. When you apply for the ISA account and opt for a transfer in it will give a drop down menu to select from providers. I chose Virgin Money but should have chosen Yorkshire Bank due to it being the 050005 sort code. I made the application in the early hours of the morning and got an e-mail to say the account had been opened. When I got up the next day there was an e-mail from Shawbrook saying I had a new document, and when I went to check it was the transfer request form with £0 in the transfer value, which is when I phoned Shawbrook up and they sorted it for me. I noticed later there was also a message saying "unable to proceed with ISA transfer in request" in relation to the first failed transfer request. If there are no problems you should get a message in the Shawbrook portal saying "ISA transfer in request accepted"  stating that the transfer will be completed within 15 working days of the request.

gele

Thank you for a very clear response. Much appreciated.