ISA Transfer Disaster

Albermarle

As I understand the story - On receipt of your ID documents by post, they have opened the ISA and your money is now in that ISA.

However you are being pestered by e mails asking still for ID.

As you have achieved what you wanted (money is in the ISA) you could just ignore the e mails? Block the sending address ?

simonpies234

https://forums.moneysavingexpert.com/discussion/comment/81907372#Comment_81907372

Yes, that's correct. The money is in the ISA account with a transfer ID etc. They never sent an email to confirm the account is open. Every time I call the help line, they always say the account is fully open.

Yesterday for the 1st time that sent an email stating,

'Thank you for your application to open a Online ISA Account.

To have your application processed successfully, we would require the below mentioned documents. We appreciate your patience and support.'

All others have just been just a link to the biometric.

There is a fos decision similar to this when a credit card company received documents, then requested them again and was ignored. They then closed the account after 30 days. They ruled in favour of the complaint and awarded £50.

The risk here to me is 'if' they close the account and return the money to me as it is an ISA, with a wrapper value to it.

simonpies234

I replied to the email yesterday that stated, 'to open the account'

Explaning what happened, the tracking number of the delivery etc and they have so far just ignored it. Not even a simple, 'we can not discussion accounts via email'

I have located a better phone, so can try the biometric at some point if I wish. I am just worried they will reject the attempt and because I failed a more recent ID check the previous is null.

If I was told at the application stage of this problem, I would have just cancelled the transfer dead. I was not given that option.

I just do not know what to do for the best.

DRS1

Didn't you say you had started a transfer out? Why not wait to see if that happens? Maybe ask the people getting that transfer how they are getting on and to let you know of any issues.

simonpies234

Yes, I'm transfering out. No money sent yet. Just called the receiving bank and they state it's says 'Ready', Which she said it means they have accepted the transfer and will be sending the funds. The ceding bank on Monday said they was waiting to here from the receiver, which I felt was a lie. It was saying 'Ready' then also.

The t&c of the ceding bank state they will send funds within 5 working days of request. The request was made last Thursday.

So if they don't send by Thursday this week, alarm bells and will have to decide how to proceed at that point.

simonpies234

AI on 'Ready'

An ISA transfer "ready" status generally indicates that the receiving provider has successfully processed your application, formally requested the funds from your old provider, and is waiting for the assets to arrive to finalize the account.

So Thursday wait and see then.

Jeez, reading my posts on here after posting, I'm sure I'm losing grey matter as I age, my spelling is terrible…..

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simonpies234

Transfer instruction notice given to them 26th Feb via email. Their terms state they will send funds within 5 days of receipt of notice.

I called them yesterday and they said the status of the transfer on the computer say 'Ready to send'. They could not give date when. But I mentioned the terms and they fired an email to the transfer team. No money sent today. As they are in now in breach of terms I have decided they do not intend sending, for reasons only they know.

The constant requests for ID continue, even after repeated phone calls. I informed them yesterday they are having a serious affect on my life.

I will send documents again today Special Delivery as the main concern for me at the moment is not the transfer but for them to stop the requests for ID after I had already sent them.

Where this ends and how I do not know.