Monument ISA transfer in.

1spiral

esselle_aitch said:

1spiral said:

Yes Yes Yes. 

I had a call from them yesterday where it was explained to me that they had had an issue whereby anyone that had transferred in an ISA could not transfer out but it is apparently all fixed now. 

Fill yer boots everybody.

Ahh I’ve just posted my own thread about this and have now seen this. I transferred an ISA into monument earlier this year and have now requested a partial transfer out but they advised the new provider that they couldn’t do it as it would be exceeding the current year’s subscription. I haven’t subscribed any new money into a ISA for this current tax year yet. So my new provider has now cancelled the transfer. I feel that Monument were wrong to give the new provider that advice but the new advisor was also wrong to accept that as a reason as they should’ve known it was an ISA transfer and not me subscribing new money from my bank account. Not sure who to ring first to try and sort this out! Have you had any luck getting yours resolved? 

Not yet, I only found out after 5PM yesterday. But my issue seems different to yours.

I was told they had a blockage whereby anyone that had transferred in just bounced back any requests to transfer out. Apparently the system did this in a way that no record of the request ever appeared on your account so your new provider saw a rejection but monument never ever saw record that it had been requested.

I was told on Weds that the issue was now fixed and my transfer out was processed Weds eve. Funds left Monument but never arrived at Paragon.

At 1630 yesterday I received a text telling me that I'd tried to make a payment into my account from an account which wasn't my linked account.

After contacting Monument, I was advised that the outgoing payment now had a blockage and wasn't leaving their system and getting bounced back. Because the deposit wasn't from my linked account, they had rejected it. 

You just couldn't make it up could you. 

esselle_aitch

1spiral said:

esselle_aitch said:

1spiral said:

Yes Yes Yes. 

I had a call from them yesterday where it was explained to me that they had had an issue whereby anyone that had transferred in an ISA could not transfer out but it is apparently all fixed now. 

Fill yer boots everybody.

Ahh I’ve just posted my own thread about this and have now seen this. I transferred an ISA into monument earlier this year and have now requested a partial transfer out but they advised the new provider that they couldn’t do it as it would be exceeding the current year’s subscription. I haven’t subscribed any new money into a ISA for this current tax year yet. So my new provider has now cancelled the transfer. I feel that Monument were wrong to give the new provider that advice but the new advisor was also wrong to accept that as a reason as they should’ve known it was an ISA transfer and not me subscribing new money from my bank account. Not sure who to ring first to try and sort this out! Have you had any luck getting yours resolved? 

Not yet, I only found out after 5PM yesterday. But my issue seems different to yours.

I was told they had a blockage whereby anyone that had transferred in just bounced back any requests to transfer out. Apparently the system did this in a way that no record of the request ever appeared on your account so your new provider saw a rejection but monument never ever saw record that it had been requested.

I was told on Weds that the issue was now fixed and my transfer out was processed Weds eve. Funds left Monument but never arrived at Paragon.

At 1630 yesterday I received a text telling me that I'd tried to make a payment into my account from an account which wasn't my linked account.

After contacting Monument, I was advised that the outgoing payment now had a blockage and wasn't leaving their system and getting bounced back. Because the deposit wasn't from my linked account, they had rejected it. 

You just couldn't make it up could you. 

Oh no, sorry to hear about all this hassle you’re experiencing and hope you manage to get it rectified soon. It seems like Monument don’t want to make to easy to transfer money out of their system. I’m in the same situation as you having transferred in an amount which is over the £85k limit and really want to make the partial transfer out soon. I was also planning on adding new subscriptions to the monument isa as it’s a flexible one. After reading some of these stories I’m starting to feel quite nervous about using monument though (although to be fair I had a very smooth transfer in so it hasn’t all been bad). I’m always so nervous moving money about it as it’s my life savings and I’m scared of something catastrophic going wrong and losing a lot of money into a big black hole somewhere! 

1spiral

esselle_aitch said:

1spiral said:

esselle_aitch said:

1spiral said:

Yes Yes Yes. 

I had a call from them yesterday where it was explained to me that they had had an issue whereby anyone that had transferred in an ISA could not transfer out but it is apparently all fixed now. 

Fill yer boots everybody.

Ahh I’ve just posted my own thread about this and have now seen this. I transferred an ISA into monument earlier this year and have now requested a partial transfer out but they advised the new provider that they couldn’t do it as it would be exceeding the current year’s subscription. I haven’t subscribed any new money into a ISA for this current tax year yet. So my new provider has now cancelled the transfer. I feel that Monument were wrong to give the new provider that advice but the new advisor was also wrong to accept that as a reason as they should’ve known it was an ISA transfer and not me subscribing new money from my bank account. Not sure who to ring first to try and sort this out! Have you had any luck getting yours resolved? 

Not yet, I only found out after 5PM yesterday. But my issue seems different to yours.

I was told they had a blockage whereby anyone that had transferred in just bounced back any requests to transfer out. Apparently the system did this in a way that no record of the request ever appeared on your account so your new provider saw a rejection but monument never ever saw record that it had been requested.

I was told on Weds that the issue was now fixed and my transfer out was processed Weds eve. Funds left Monument but never arrived at Paragon.

At 1630 yesterday I received a text telling me that I'd tried to make a payment into my account from an account which wasn't my linked account.

After contacting Monument, I was advised that the outgoing payment now had a blockage and wasn't leaving their system and getting bounced back. Because the deposit wasn't from my linked account, they had rejected it. 

You just couldn't make it up could you. 

Oh no, sorry to hear about all this hassle you’re experiencing and hope you manage to get it rectified soon. It seems like Monument don’t want to make to easy to transfer money out of their system. I’m in the same situation as you having transferred in an amount which is over the £85k limit and really want to make the partial transfer out soon. I was also planning on adding new subscriptions to the monument isa as it’s a flexible one. After reading some of these stories I’m starting to feel quite nervous about using monument though (although to be fair I had a very smooth transfer in so it hasn’t all been bad). I’m always so nervous moving money about it as it’s my life savings and I’m scared of something catastrophic going wrong and losing a lot of money into a big black hole somewhere! 

You were lucky with your transfer in then, I also had a problem with that. I started the transfer in process on 21st April. As soon as the funds were there I initiated the partial transfer out. Today is day 46 and the funds were removed from Monument on Weds and are still not with Paragon.

esselle_aitch

1spiral said:

esselle_aitch said:

1spiral said:

esselle_aitch said:

1spiral said:

Yes Yes Yes. 

I had a call from them yesterday where it was explained to me that they had had an issue whereby anyone that had transferred in an ISA could not transfer out but it is apparently all fixed now. 

Fill yer boots everybody.

Ahh I’ve just posted my own thread about this and have now seen this. I transferred an ISA into monument earlier this year and have now requested a partial transfer out but they advised the new provider that they couldn’t do it as it would be exceeding the current year’s subscription. I haven’t subscribed any new money into a ISA for this current tax year yet. So my new provider has now cancelled the transfer. I feel that Monument were wrong to give the new provider that advice but the new advisor was also wrong to accept that as a reason as they should’ve known it was an ISA transfer and not me subscribing new money from my bank account. Not sure who to ring first to try and sort this out! Have you had any luck getting yours resolved? 

Not yet, I only found out after 5PM yesterday. But my issue seems different to yours.

I was told they had a blockage whereby anyone that had transferred in just bounced back any requests to transfer out. Apparently the system did this in a way that no record of the request ever appeared on your account so your new provider saw a rejection but monument never ever saw record that it had been requested.

I was told on Weds that the issue was now fixed and my transfer out was processed Weds eve. Funds left Monument but never arrived at Paragon.

At 1630 yesterday I received a text telling me that I'd tried to make a payment into my account from an account which wasn't my linked account.

After contacting Monument, I was advised that the outgoing payment now had a blockage and wasn't leaving their system and getting bounced back. Because the deposit wasn't from my linked account, they had rejected it. 

You just couldn't make it up could you. 

Oh no, sorry to hear about all this hassle you’re experiencing and hope you manage to get it rectified soon. It seems like Monument don’t want to make to easy to transfer money out of their system. I’m in the same situation as you having transferred in an amount which is over the £85k limit and really want to make the partial transfer out soon. I was also planning on adding new subscriptions to the monument isa as it’s a flexible one. After reading some of these stories I’m starting to feel quite nervous about using monument though (although to be fair I had a very smooth transfer in so it hasn’t all been bad). I’m always so nervous moving money about it as it’s my life savings and I’m scared of something catastrophic going wrong and losing a lot of money into a big black hole somewhere! 

You were lucky with your transfer in then, I also had a problem with that. I started the transfer in process on 21st April. As soon as the funds were there I initiated the partial transfer out. Today is day 46 and the funds were removed from Monument on Weds and are still not with Paragon.

I’m sorry to hear that. It’s such a worry seeing money disappear like that and it’s out of our control. Are you regretting choosing Monument now?! I’ve now got to contact my new provider and ask them to do a manual transfer but I’m so nervous about it. On the other hand if I don’t do it then I’m in a position where I’m risking losing some money if Monument go bust. 

1spiral

esselle_aitch said:

1spiral said:

esselle_aitch said:

1spiral said:

esselle_aitch said:

1spiral said:

Yes Yes Yes. 

I had a call from them yesterday where it was explained to me that they had had an issue whereby anyone that had transferred in an ISA could not transfer out but it is apparently all fixed now. 

Fill yer boots everybody.

Ahh I’ve just posted my own thread about this and have now seen this. I transferred an ISA into monument earlier this year and have now requested a partial transfer out but they advised the new provider that they couldn’t do it as it would be exceeding the current year’s subscription. I haven’t subscribed any new money into a ISA for this current tax year yet. So my new provider has now cancelled the transfer. I feel that Monument were wrong to give the new provider that advice but the new advisor was also wrong to accept that as a reason as they should’ve known it was an ISA transfer and not me subscribing new money from my bank account. Not sure who to ring first to try and sort this out! Have you had any luck getting yours resolved? 

Not yet, I only found out after 5PM yesterday. But my issue seems different to yours.

I was told they had a blockage whereby anyone that had transferred in just bounced back any requests to transfer out. Apparently the system did this in a way that no record of the request ever appeared on your account so your new provider saw a rejection but monument never ever saw record that it had been requested.

I was told on Weds that the issue was now fixed and my transfer out was processed Weds eve. Funds left Monument but never arrived at Paragon.

At 1630 yesterday I received a text telling me that I'd tried to make a payment into my account from an account which wasn't my linked account.

After contacting Monument, I was advised that the outgoing payment now had a blockage and wasn't leaving their system and getting bounced back. Because the deposit wasn't from my linked account, they had rejected it. 

You just couldn't make it up could you. 

Oh no, sorry to hear about all this hassle you’re experiencing and hope you manage to get it rectified soon. It seems like Monument don’t want to make to easy to transfer money out of their system. I’m in the same situation as you having transferred in an amount which is over the £85k limit and really want to make the partial transfer out soon. I was also planning on adding new subscriptions to the monument isa as it’s a flexible one. After reading some of these stories I’m starting to feel quite nervous about using monument though (although to be fair I had a very smooth transfer in so it hasn’t all been bad). I’m always so nervous moving money about it as it’s my life savings and I’m scared of something catastrophic going wrong and losing a lot of money into a big black hole somewhere! 

You were lucky with your transfer in then, I also had a problem with that. I started the transfer in process on 21st April. As soon as the funds were there I initiated the partial transfer out. Today is day 46 and the funds were removed from Monument on Weds and are still not with Paragon.

I’m sorry to hear that. It’s such a worry seeing money disappear like that and it’s out of our control. Are you regretting choosing Monument now?! I’ve now got to contact my new provider and ask them to do a manual transfer but I’m so nervous about it. On the other hand if I don’t do it then I’m in a position where I’m risking losing some money if Monument go bust. 

I'm not regretting choosing Monument but I do feel they have bitten off more than they can chew. I'm sure in a month or 2 people will be saying their transfer in/out process is great, it's just not very good at the moment.

It seems to me their IT team need to ring round everyone that is affected and explain to them why they didn't make a more robust system that was properly tested. 

1spiral

My Coventry to Monument, Monument to Paragon finally completed yesterday after 50 days from start to finish. 

esselle_aitch

1spiral said:

My Coventry to Monument, Monument to Paragon finally completed yesterday after 50 days from start to finish. 

Finally! I’m still waiting for my partial transfer out of Monument to take place, no doubt I’ve got a few more weeks to go yet. I rang my new provider on Friday who said they would initiate the manual transfer but I’ve not heard anything more since…

esselle_aitch

So despite phoning my new provider last week and being reassured that they will send Monument a manual transfer request by email and that they do it all the time so there’s nothing to worry about, I’ve today received a message from them asking me to complete a paper transfer form and send it to them. The guy I spoke to last week said he was putting the request in straight away so how has it taken them a week to realise they need this form from me? Also I don’t understand why they can’t use the same details from my initial online request. The saga continues… 

northernstar007

ive got my isa with monument, not needing access to the funds, but dreading the transfer when the time comes

esselle_aitch

northernstar007 said:

ive got my isa with monument, not needing access to the funds, but dreading the transfer when the time comes

Hopefully it’s just teething problems and by the time you need to access your funds, they’ll have sorted out their system. My advice though - plan ahead!