Monument ISA transfer in.

northernstar007

day 13 still no transfer hmmmmm
on the phone to vm, looking into it
vm has now said the funds are waiting for monument to collect its upto  them when they collect the funds

1spiral

northernstar007 said:

vm has now said the funds are waiting for monument to collect its upto  them when they collect the funds

What, I thought Monument request the funds, then vm send them.

northernstar007

1spiral said:

northernstar007 said:

vm has now said the funds are waiting for monument to collect its upto  them when they collect the funds

What, I thought Monument request the funds, then vm send them.

dont shoot the messenger, i'm just saying what i've been told by vm

1spiral

northernstar007 said:

1spiral said:

northernstar007 said:

vm has now said the funds are waiting for monument to collect its upto  them when they collect the funds

What, I thought Monument request the funds, then vm send them.

dont shoot the messenger, i'm just saying what i've been told by vm

I wasn't. I was just shocked by what you said because I thought all Isa transfers worked by the recipient requesting the transfer and the current provider sending it. What they have told you seems to indicate that there is a third and totally unnecessary step that can only possibly result in delaying a transfer.

allegro120

northernstar007 said:

allegro120 said:

1spiral said:

Can anyone that has had an ISA transfer to Monument complete in the past day please advise how long it took. I'm in the process of transferring an isa to them but it will take me above the FSCS protection limit and need to initiate a partial transfer out to lower the balance.

I'm wanting to gauge when that might be as I'm going on hols soon and would rather like to initiate the transfer out before I go.

I initiated full balance transfer from Virgin to Monument on 11 April.  Still waiting, no updates from neither side of transaction.  Tomorrow it will reach the 'up to 15 days' promise, I guess I'll have to call Monument on Monday to chase it up. 

i called vm today on day 9, said its been approved at there end and waiting for it to be transfered
was told if its not went throught by next fri give them a call
sounds to me its vm thats holding transfers up

I called Monument on 29th saying that it is 18 days now... they said it is only 9 working days so far and they will inform me when the transfer is complete.  Still waiting.

allegro120

friolento said:

I am rapidly going off Monument. Their chat is useless, they don't answer my email, calling them from the app doesn't work.

Calling from app worked for me, but they couldn't update me on the progress of my transfer.

friolento

allegro120 said:

friolento said:

I am rapidly going off Monument. Their chat is useless, they don't answer my email, calling them from the app doesn't work.

Calling from app worked for me, but they couldn't update me on the progress of my transfer.

I eventually got through to them on the phone - was actually answered surprisingly quickly. The first person I spoke to was deeply unhelpful, so I called again and got through to someone who was the exact opposite. As Kent Reliance had told me they had not received a request from Monument, we decided to cancel my existing request and I submitted a new one. He promised to keep an eye on it for me. This was Wednesday. The money was in my Monument account today. I will never know why it didn't work swiftly first time round, and have decided not to pursue answers from either or both Monument or KR as I have already wasted plenty of time over it. 

1spiral

friolento said:

allegro120 said:

friolento said:

I am rapidly going off Monument. Their chat is useless, they don't answer my email, calling them from the app doesn't work.

Calling from app worked for me, but they couldn't update me on the progress of my transfer.

 Kent Reliance had told me they had not received a request from Monument,

And this is one of my biggest bugbear with ISA transfers.

In a standard savings account I withdraw funds, I know when I expect them to arrive. If they don't, I can be chasing it up within a very short time.

With ISA transfers you effectively say please withdraw my money at a time that is totally convenient to both of you and you have no idea whether it is progressing, stagnated or got lost in space.

northernstar007

on tues it will be 15 working day since the transfer request, can anyone tell me where do i go from here
as i mentioned vm are saying its upto monument its been approved at there end and monument are saying just wait, time is getting close when vm rates are dropping

1spiral

Next step would be to raise a complaint with one or both parties. Whether you wait until it completes or just after the 15 days is up to you.

My Cov to Mon transfer that caused me to start this thread has still not completed. The money has been in a black hole since Weds 23rd April.

Cov have advised me that the funds have been sent to Mon now although still not visible in my account.

I will need to initiate the transfer of excess funds out of my Mon account (without them having been credited) today as I am on hols next week and will not have access to internet.