Transfer of S&S ISA with Scottish Widows to Charter Savings Bank

invuk

Not having a good experience with the transfer. Currently have £76k for a house deposit with Scottish Widows in a S&S ISA all in cash (all investments sold). Applied and posted an application to Charter by first class post on 19th January 2026 (cost me £3.05). Not heard anything from either providers since. Am I right in saying I can't do anything until 30 days have passed?

invuk

https://forums.moneysavingexpert.com/discussion/comment/81874367#Comment_81874367

Thanks for this only I don't use Facebook.

flaneurs_lobster

Why Facebook?

Phone? Secure message?

https://www.chartersavingsbank.co.uk/ContactUs

Ring them up and ask.

invuk

https://forums.moneysavingexpert.com/discussion/comment/81874404#Comment_81874404

I sent them a secure message a short while ago. Thanks.

eskbanker

https://forums.moneysavingexpert.com/discussion/6654328/transfer-of-s-s-isa-with-scottish-widows-to-charter-savings-bank

Is the house purchase imminent, i.e. are you actually in a rush for the money? If so, then you could presumably just withdraw the S&S ISA money to your bank account? Obviously if you're not in a rush then there's less of a concern….

invuk

https://forums.moneysavingexpert.com/discussion/comment/81874450#Comment_81874450

I'm in no rush for the money as I'm still looking for a house but more bothered about loss of interest.

eskbanker

https://forums.moneysavingexpert.com/discussion/comment/81874474#Comment_81874474

Fair enough - as you accept, the transfer process should complete within 30 days, but the money should generally be earning interest throughout (assuming SW pay interest on cash balances?).

jak22

From SW https://www.scottishwidows.co.uk/assets/literature/docs/costsandcharges.pdf

Interest rates for our Share Dealing Account and Stocks and Shares ISA

We do not pay you interest on cash balances held within your ISA or Share Dealing Account.

eskbanker

Probably would have been worth sticking the £76K into a short term money market fund while awaiting the transfer, where daily growth of about 0.01% would be more than enough to offset dealing charges…

dunstonh

Its worth noting that SW have multiple distribution channels for S&S ISAs working out of different addresses. So, the receiving scheme must use the correct one.

invuk

Getting rather annoyed now!

30 days have passed and the transfer has still not completed. Over £76,000 earning nothing for over a month,

My last response from Charter Savings Bank was as follows:

I can confirm that your ISA transfer request form was received on the 20th January and was forwarded to Scottish Widows on the 22nd January.We sent a reminder on the 5th February.Please be aware that a Stocks and Shares ISA transfer can take 30 days to complete.

Anyone know what my options are now?