Another ISA transfer another bank makes a mistake

masonic

It sounds like they failed to process the ISA transfer correctly and then ran out of time. Or the ISA never accepted transfers. You should clarify which it was, but it won't affect the resolution.

The resolution will be to transfer both existing ISAs into a new one accepting transfers. It is up to you whether you stick with this provider. Any early access penalty should be waived. Some compensation for distress and inconvenience should also be paid.

The FOS can help with this if the provider hasn't resolved within 8 weeks of your complaint, but you'll be waiting several months for the FOS process to conclude, so worth resolving with the provider if possible.

Staff being poorly trained about ISAs is a running theme of this board, so no surprises there.

toymotor

https://forums.moneysavingexpert.com/discussion/comment/82008472#Comment_82008472

The isa wasnt done correctly in branch. Branch staff not trained enough, giving out wrong information eventually they ran out of excuses and time. I'll stick with them this year but now i'll have 2 isa to transfer across next year and if they are this bad with one God only knows how they'll be with 2 to transfer.

tetrarch

You are wanting to go to an Ombudsman to be made whole. The solution you have been offered by your provider makes you financially whole, but gives you the inconvenience of two different accounts

Any "reasonable" test would deem that you have not been affected negatively financially.

In just over 9 months time you can consolidate your iSA's into a single account at another provider.

Regards

Tet

toymotor

https://forums.moneysavingexpert.com/discussion/comment/82009259#Comment_82009259

Then i can consolidate? If you could give me link to where that information is I would be grateful. I can't find rules on consolidating isa's. Thanks for you input most helpful.

masonic

I don't know what the reference to waiting 9 months is about, but you have the right to consolidate at any time. The rules around transfers can be found here: https://www.gov.uk/guidance/transfer-an-isa-if-youre-an-isa-manager

toymotor

Thank you very much, i'll give a read.