ISA transfer experiences

dales1

refluxer said:

dales1 said:

Beware Halifax !!

 - beyond useless, and also complacent.

Today my £40k transfer out was refused for "insufficient funds" although I have a £110k balance !

The CSO said I must reissue a manual transfer (which takes ages longer). 

It seems that is their easiest way out of their own internal problem.

It is too easy for them to offer to pay redress for lost interest, rather than to fix their own system problem. 

Their CSO is just buying me off.

Meantime I worry if I will get this manual transfer completed in time for my new ISA's fix deadline.

While ISA providers have strict funding windows for paying new subscriptions into their fixed rate cash ISAs, they usually have different timescales when you're transferring-in. The important thing is that you get the transfer request submitted within the time allowed for this and once that's been accepted, the new provider should allow enough time for a (worst-case scenario) paper-based transfer to occur.

If your first transfer request has failed and you now have to submit a paper transfer form, just try and get that in the post ASAP, presuming that the new provider accepts paper-based transfers (not all do). They often have the required PDFs on their site so printing out your own (if you can) will obviously be quicker than requesting one through the post. 

In my experience, Halifax are one of the banks who still sometimes use traditional practices such as required 'wet signatures' on paper forms or branch visits for closing certain types of accounts, so this type of thing is certainly annoying but isn't too surprising, unfortunately.

Many thanks for your considerate advice, refluxer.

I do now hope to meet the deadline for my new fix, barring any more untoward Hx delays !

I have indeed already printed out and posted first-class my manual transfer form to Skipton (who told me they do not accept email/online submissions -  how quaint !).

My main point to the forum was a warning that, on this occasion, Halifax screwed up my transfer yet they wouldn't get a grip and take ownership of the problem. I lost half a day of my valuable time, in tackling their webchat, webchat complaints, and the friendly subscriptions CSO dealing with ISA techies behind the scenes. I still don't see why they couldn't push the transfer through in their back office (as I asked them), once they had admitted to me they had fouled up. So beware Halifax is still my motto.

Darnhall123

I’ve read through this thread and haven’t seen any transfer reports regarding transferring out of Kent Reliance. 

I have a 1yr fixed term cash ISA maturing December 9th and because KR don’t have any products mildly worth considering ATM,  looking at alternatives (poss Dodl S&S, or a Vida cash ISA). 

Has anyone had any experiences to report, good or bad? 🙏

subjecttocontract

I have a Kent 1 yr fixed ISA ending on December 1st. Last year they offered a reasonable maturity offer a couple of weeks before which I took. I'm waiting to see wether there is another offer this year before deciding where to transfer.

Marmaduke123

I transferred out a maturing Kent ISA last month, because their maturity options for reinvesting were so poor.

 I transferred to NatWest. Both sides were efficient, and when I opened the NatWest ISA I indicated that the transfer should take place only when the Kent ISA matured. This happened with no problems and Kent Reliance kept me informed at every stage exactly what was happening.

I was sorry to leave Kent Reliance. I've had 1 yr fixed rate ISAs with them for several years. It's the first time they haven't been competitive.

dillydilly1

Hargreaves Lansdowne current leading cash ISA rate - enthuse proudly how they're 'paperless' regards statements, then point you to a 'paper form' to do a transfer, presuming everyone still has a needless printer. No option to request a form be posted, let's see if they do send one on request. As ever, marketing dept not in touch with back office

Kim_13

Darnhall123 said:

I’ve read through this thread and haven’t seen any transfer reports regarding transferring out of Kent Reliance. 

I have a 1yr fixed term cash ISA maturing December 9th and because KR don’t have any products mildly worth considering ATM,  looking at alternatives (poss Dodl S&S, or a Vida cash ISA). 

Has anyone had any experiences to report, good or bad? 🙏

They're fine, both electronic and paper based (the latter as Family BS required this.) It's their maturity process that leaves something to be desired (auto-refix, options sent at the last minute.)

shirley999

Barclays to Cynergy

4/9-1/10 (matured 23/9)

Electronic.  4 or 5 submissions, can't remember which, 5 hours of phone calls and a branch appointment with Barclays, faults admitted by both sides.

refluxer

Nationwide to Charter - 2 working days.

Monday AM - account opened, transfer request acknowledged by Charter and sent to Nationwide
Tuesday PM - Nationwide ISA showing a £0 balance
Wednesday AM - funds credited to Charter account