Bacs ISA transfer service

littlemoney

I read a short while ago that some transfer take longer/ more problematic if either organisation is not signed up for the Bacs ISA transfer service.

Is this true?

There was also a list of the organisations signed up for this service but I can't find it now to determine if the move i want to make will go smoothly.

If it takes long time, is the money still earning interest?

masonic

It's been rebranded to the Cash ISA Transfer Service since Pay UK took up the reigns. There isn't an official list, but some banks list members they can support transfers from.

Issues can also occur if the sending ISA provider doesn't give customers a sort code and account number (e.g. those that use NINO as the sole account identifier).

But it varies by receiving provider. Some are adaptable, some much less so.