Problem with ISA transfer

pennyfarthing66

Completed a cash ISA transfer form, was accepted and new account opened. Have been waiting since 16th July for the funds to move across (from HSBC to Kent Reliance). 

Phoned KR and they said waiting on HSBC. Phoned HSBC and they deny all knowledge of having received any communications from KR, despite me giving them the transfer reference number and the dates when the requests were made. 

Each blaming the other and I'm no further forward.

Has anyone else experienced this kind of issue and how do you get it sorted out. Do I just start again or forget it and try somewhere else?

Pulling my hair out....!

eskbanker

It's the receiving provider's responsibility to manage the process so keep pushing KR - get them to escalate/expedite if they say they're waiting for the sender, that's not supposed to be your problem.

Albermarle

pennyfarthing66 said:

Completed a cash ISA transfer form, was accepted and new account opened. Have been waiting since 16th July for the funds to move across (from HSBC to Kent Reliance). 

Phoned KR and they said waiting on HSBC. Phoned HSBC and they deny all knowledge of having received any communications from KR, despite me giving them the transfer reference number and the dates when the requests were made. 

Each blaming the other and I'm no further forward.

Has anyone else experienced this kind of issue and how do you get it sorted out. Do I just start again or forget it and try somewhere else?

Pulling my hair out....!

Very many, going by the number of very similar threads on this forum.

pennyfarthing66

It is now September and I still have not managed to transfer the cash ISA from HSBC to Kent Reliance. Keep getting bounced from one to the other. KR say they have reached out to HSBC via secure messaging and HSBC claim not to have received it. This is now beyond ridiculous and I don't know where to go from here.

xylophone

Have you made a formal written complaint to KR?

https://www.kentreliance.co.uk/legal/how-to-complain

pennyfarthing66

I haven't yet @xylophone, but looks as though I need to go down that route. Thanks for the info link.

Yorkie1

KR were very persistent when I transferred from NS&I to them. Took weeks, but they did get there in the end!