(New) CMC Invest - Flexible Cash ISA - 4.85% (allows transfers)

DodgerPot

Just an update 
CMC Invest Cash ISA transfer out (full amount)

initiated transfer out 3/09 
To Shawbrook 1yr Fixed ISA 4.31%

transfer complete today 10/09 5 working days 
happy with that as today CMC ISA rate drops to 3.95%

Alohaman

On a similar vein I'm struggling to transfer out of the CMC invest ISA. No other providers list them. Tembo said I should ask CMC invest to transfer out from their side but the refused. 
This all seems a bit dodgy. 
Any advice?

DodgerPot

Alohaman said:

On a similar vein I'm struggling to transfer out of the CMC invest ISA. No other providers list them. Tembo said I should ask CMC invest to transfer out from their side but the refused. 
This all seems a bit dodgy. 
Any advice?

Don’t worry plenty of us have transferred our CMC Invest ISAs out to other providers.
Because CMC aren’t part of the electronic transfer system some providers won’t show CMC on their list of accepted transfer ins. 

Always get your new chosen ISA provider to initiate the process. 

I fully transferred out to Shawbrook. Others have gone to Paragon and Vida. 

I’d also checked my local Skipton Building Society would accept via a paper transfer form.

For the first time I had to do the necessary isa paperwork to transfer. I opened the Shawbrook isa ticked I’d be transferring in. Then Shawbrook messaged me with the isa transfer form which I printed out filled in signed and scan emailed back to them. 

The process took 5 working days to complete. 

Just search back this and other CMC threads to see others who’ve successfully transferred out of CMC.
The process just takes a little more effort rather than a simple click to let your new provider know your CMC details 
Also for your info needed to transfer out ……. These are the details I used when the new provider asks for your account details 

CMC Markets Investments Limited 
sort code 60-00-01
account number 48950823
Reference Your CMC ID number 

moi

DodgerPot said:

I fully transferred out to Shawbrook. Others have gone to Paragon and Vida. 

I’d also checked my local Skipton Building Society would accept via a paper transfer form.

Ford Money also have a print-out form, & they have a freepost address👍🏻 . I recently posted them a request to transfer out of CMC Invest (not complete yet.)

pecunianonolet

DodgerPot said:

Alohaman said:

On a similar vein I'm struggling to transfer out of the CMC invest ISA. No other providers list them. Tembo said I should ask CMC invest to transfer out from their side but the refused. 
This all seems a bit dodgy. 
Any advice?

Don’t worry plenty of us have transferred our CMC Invest ISAs out to other providers.
Because CMC aren’t part of the electronic transfer system some providers won’t show CMC on their list of accepted transfer ins. 

Always get your new chosen ISA provider to initiate the process. 

I fully transferred out to Shawbrook. Others have gone to Paragon and Vida. 

I’d also checked my local Skipton Building Society would accept via a paper transfer form.

For the first time I had to do the necessary isa paperwork to transfer. I opened the Shawbrook isa ticked I’d be transferring in. Then Shawbrook messaged me with the isa transfer form which I printed out filled in signed and scan emailed back to them. 

The process took 5 working days to complete. 

Just search back this and other CMC threads to see others who’ve successfully transferred out of CMC.
The process just takes a little more effort rather than a simple click to let your new provider know your CMC details 
Also for your info needed to transfer out ……. These are the details I used when the new provider asks for your account details 

CMC Markets Investments Limited 
sort code 60-00-01
account number 48950823
Reference Your CMC ID number 

My transfer out request was just declined by CMC to Coventry, apparently because of incorrect information and I need to resubmit. What a sh*t show...

DodgerPot

Sorry to hear you’ve had a problem with the transfer out. 

Are you going to try again?

I used the transfer details in my above post referencing my CMC ID number and had no problems at all. 

Also went for a full transfer out not a partial. 

pecunianonolet

DodgerPot said:

Sorry to hear you’ve had a problem with the transfer out. 

Are you going to try again?

I used the transfer details in my above post referencing my CMC ID number and had no problems at all. 

Also went for a full transfer out not a partial. 

I initated the process before the above was posted and didn't know the account no and sort code so left it blank in the paper form and only put my CMC ISA ID in. 

Form sent on 5th September, Coventry confirmed receipt and info submitted to CMC on the 10th (only after I called to check for an update). 

I also chased up CMC and only yesterday thay came back telling me they never received a form, Coventry this morning confirmed it was declined. Coventry also repeatedly said they have 30 days, when in fact they have 15 working days as it is a cash ISA. 

Have to resubit on Thursday (not at home currently) but I guess my 35 days funding window from Cynergy is melting and I won't make it in time to initiate a transfer with them until Coventry has received funds. 

harj1185

pecunianonolet said:

DodgerPot said:

Sorry to hear you’ve had a problem with the transfer out. 

Are you going to try again?

I used the transfer details in my above post referencing my CMC ID number and had no problems at all. 

Also went for a full transfer out not a partial. 

I initated the process before the above was posted and didn't know the account no and sort code so left it blank in the paper form and only put my CMC ISA ID in. 

Form sent on 5th September, Coventry confirmed receipt and info submitted to CMC on the 10th (only after I called to check for an update). 

I also chased up CMC and only yesterday thay came back telling me they never received a form, Coventry this morning confirmed it was declined. Coventry also repeatedly said they have 30 days, when in fact they have 15 working days as it is a cash ISA. 

Have to resubit on Thursday (not at home currently) but I guess my 35 days funding window from Cynergy is melting and I won't make it in time to initiate a transfer with them until Coventry has received funds. 

I'm just about to try and transfer to Coventry Building Society - I called CMC and they said to just put the account ID as the account number, no SC or anything. The above post says to use the following:

CMC Markets Investments Limited 
sort code 60-00-01
account number 48950823
Reference Your CMC ID number 

Which would be better - any ideas?

DodgerPot

harj1185 said:

pecunianonolet said:

DodgerPot said:

Sorry to hear you’ve had a problem with the transfer out. 

Are you going to try again?

I used the transfer details in my above post referencing my CMC ID number and had no problems at all. 

Also went for a full transfer out not a partial. 

I initated the process before the above was posted and didn't know the account no and sort code so left it blank in the paper form and only put my CMC ISA ID in. 

Form sent on 5th September, Coventry confirmed receipt and info submitted to CMC on the 10th (only after I called to check for an update). 

I also chased up CMC and only yesterday thay came back telling me they never received a form, Coventry this morning confirmed it was declined. Coventry also repeatedly said they have 30 days, when in fact they have 15 working days as it is a cash ISA. 

Have to resubit on Thursday (not at home currently) but I guess my 35 days funding window from Cynergy is melting and I won't make it in time to initiate a transfer with them until Coventry has received funds. 

I'm just about to try and transfer to Coventry Building Society - I called CMC and they said to just put the account ID as the account number, no SC or anything. The above post says to use the following:

CMC Markets Investments Limited 
sort code 60-00-01
account number 48950823
Reference Your CMC ID number 

Which would be better - any ideas?

I did a paper transfer form from CMC to Shawbrook using those account/sort code and my ID number and all was transferred successfully over in 5 working days so I can only suggest you try what I did. 

pecunianonolet

Just wanted to provide a quick update. 

When I inquired with Coventry I was told the transfer was declined, which I already outlined above. They couldn't give me any more details other than "details did not match" and told me I would receive a letter. The letter arrived but took 8 day to arrive (based on when it was dated). 

I was asking if i would need to hand in a new request and this was confirmed. I was also asking if it has to be paper again by post or if I could print, sign and send them a scan of the form by email. Initially declined the advisor checked with his supervisor after I pressed him and it was granted to be possible via email and that he would make a note of it. 

I phoned CMC after I got nowwhere via secure message, they were helpful and looked for the transfer form to check what the reason for declining the request was. We went through all data, NI number, address, email, date of birth, account id, etc. The reason for decline was that I put the account ID and my customer number onto the form. This was also both matching their records, explained I wanted to help to make it easier and to double check what exact detail is required so Coventry could resend the request. 

Was told the only think they need is the ISA ID, account number and sort code are not required. The lady spoke to the head of transfers and they agreed that all my data is correct and that it shouldn't ave been rejectedand. They revoked the rejection and said they will contact Coventry to get it moving. I was treated failry and they apologised for it and that it takes so long. 

Right, I phoned Coventry back, explained to sombody else the story, that the form is now accepted and that they should just contact CMC again using the same form they had on file and scanned in. 

This all happened last Friday 26th Sep and today, 1st Oct I got my interest credited in the morning and this afternoon the money from CMC disapeared. Coventry said they backdate the interest to the date written on the cheque. However, CMC told me they send funds via faster transfer sually and not issue a cheque if they don't have to. 

Just waiting now for the funds to appear in Coventry and once credited it will move onwards, electronically this time, to Cynergy into the 4.35% ISA. 

Only took almost a month