Shawbrook Bank are a complete shower!

Consumer3

I just had a 1 year Shawbrook ISA go into the Matured Funds ISA yesterday and it has retained the same account number. 

I personally haven’t had any issues with Shawbrook, they have been really straightforward to deal with. However I’m transferring this one out so I’ll report back if any issues. 

fuzzzzy

Consumer3 said:

I just had a 1 year Shawbrook ISA go into the Matured Funds ISA yesterday and it has retained the same account number. 

I personally haven’t had any issues with Shawbrook, they have been really straightforward to deal with. However I’m transferring this one out so I’ll report back if any issues. 

Might be a good idea to get Shawbrook to do an internal transfer to their easy access ISA first - should be very quick. Then if you do have any problems with the transfer out to another provider then at least you are getting 3.7% in the meantime rather than O.1%.

refluxer

fuzzzzy said:

Consumer3 said:

I just had a 1 year Shawbrook ISA go into the Matured Funds ISA yesterday and it has retained the same account number. 

I personally haven’t had any issues with Shawbrook, they have been really straightforward to deal with. However I’m transferring this one out so I’ll report back if any issues. 

Might be a good idea to get Shawbrook to do an internal transfer to their easy access ISA first - should be very quick. Then if you do have any problems with the transfer out to another provider then at least you are getting 3.7% in the meantime rather than O.1%.

...the only caveat being that an internal transfer would need to be carried out before requesting the external transfer, in order to obtain the new account number for the transfer form.

MarkFromCornwall

I have been watching this thread a little nervously as I had a Shawbrook ISA maturing.  I requested a partial ISA transfer to Close Brothers on Tuesday 1st July and it has completed this morning, Thursday 3rd July.  That's excellent!

2010

MarkFromCornwall said:

I have been watching this thread a little nervously as I had a Shawbrook ISA maturing.  I requested a partial ISA transfer to Close Brothers on Tuesday 1st July and it has completed this morning, Thursday 3rd July.  That's excellent!

Where did the remainder go.
Did you request the partial before maturity or after.

MarkFromCornwall

2010 said:

Where did the remainder go.
Did you request the partial before maturity or after.

Now that the partial transfer to Close Brothers has completed I have requested a full transfer of the remaining funds to a newly opened cash ISA with Vanquis Bank.  Like you, my maturity instruction to Shawbrook was to put the maturing funds in their Easy Access 3.7% account, which they did, so my transfers out are from that account.

2010

MarkFromCornwall said:

2010 said:

Where did the remainder go.
Did you request the partial before maturity or after.

Now that the partial transfer to Close Brothers has completed I have requested a full transfer of the remaining funds to a newly opened cash ISA with Vanquis Bank.  Like you, my maturity instruction to Shawbrook was to put the maturing funds in their Easy Access 3.7% account, which they did, so my transfers out are from that account.

Thanks for that.
Maybe that explains the quick transfer to Close Brothers.

fuzzzzy

MarkFromCornwall said:

2010 said:

Where did the remainder go.
Did you request the partial before maturity or after.

Now that the partial transfer to Close Brothers has completed I have requested a full transfer of the remaining funds to a newly opened cash ISA with Vanquis Bank.  Like you, my maturity instruction to Shawbrook was to put the maturing funds in their Easy Access 3.7% account, which they did, so my transfers out are from that account.

So you did not request the Close Brothers partial transfer until after the ISA had matured into an easy access and had a new account number?

MarkFromCornwall

fuzzzzy said:

So you did not request the Close Brothers partial transfer until after the ISA had matured into an easy access and had a new account number?

That's right.  It seemed like the safe, low-stress way to do it.

tsmiggy54

Albermarle said:

Aidanmc said:

Is it a full or partial transfer you are trying to get done?

I don't understand why the matured ISA is oly getting 0.1% interest, when Shawbrook easy access ISA is 3.7%

Savings providers do not always use their standard easy access account when a fixed term ends.

But they do ask, what you would like them to do, and then give you the options available. Do nothing then they put it into a 0.1% account, this is explained well in advance of the date.