Cash ISA transfer - Charter to Vanquis

Yellowman

Has anyone transferred a variable cash ISA from Charter to Vanquis?

How quick are transfers?

Do they both use electronic systems?

anniecave

I haven't used Vanquis. If you mean Charter Savings bank then yes they definately use electronic systems. I've transferred quite a few ISAs from and to them and they've been using faster payments for years. I recently applied to transfer two different ISAs (both are fixed) and one of them is a transfer from Charter and I had an acknowledgement very quickly (within a day) that they'd received my request and it was on hold pending processing on the relevant day in the future (which will be this week). 

SickGroove

anniecave said:

I haven't used Vanquis. If you mean Charter Savings bank then yes they definately use electronic systems. I've transferred quite a few ISAs from and to them and they've been using faster payments for years. I recently applied to transfer two different ISAs (both are fixed) and one of them is a transfer from Charter and I had an acknowledgement very quickly (within a day) that they'd received my request and it was on hold pending processing on the relevant day in the future (which will be this week). 

When transferring a cash ISA from Charter Savings Bank to another provider, what account details do you give to the new provider, as Charter Savings Bank don't have a sort code or account number on their cash ISA accounts?

refluxer

Yellowman said:

Has anyone transferred a variable cash ISA from Charter to Vanquis?

How quick are transfers?

Do they both use electronic systems?

Yes, both Charter and Vanquis use the BACs ISA transfer service so a transfer should be fairly quick.

Cynergy have a handy list of providers who use this service - see the 'Which providers can I transfer my ISA from ?' FAQ on this page.

refluxer

SickGroove said:

When transferring a cash ISA from Charter Savings Bank to another provider, what account details do you give to the new provider, as Charter Savings Bank don't have a sort code or account number on their cash ISA accounts?

Whenever transferring an ISA which doesn't have a standard 8-digit account number, you put it in the 'Roll/reference number' field on the ISA transfer form (if it's an online form then that field allows free text). You could also put Charter's own sort code and account number in those other fields for completeness if you want to, but it's probably not necessary.

I've transferred numerous ISAs from other providers who don't use 8-digit account numbers like Paragon, Nationwide and Principality in this way and the transfers have always been fine.