Disaster moving cash ISA from Skipton to Halifax

temporary_texan

Anyone had problems moving money out of Skipton to another ISA? I am weeks in to the process and so far have had several letters from Halifax stating Skipton have found a mis-match between details provided by Halifax and their own records. We have checked everything and spoken to Halifax. The only thing we could find was Christian name was slightly shorted on Halifax account everything else identical. So we changed the name on Halifax to my full Christian name. Then came back the response from Skipton - Mismatch between account details on Halifax and their account details. I have one account with Skipton so rang them to find out what the problem was - Sorry cannot tell you, not allowed.#

Is this a scam to block transfers out of their bank?

kaMelo

It's certainly not a scam by any definition of the word. (Why is everything a scam nowadays?)

Have you provided the details of your Skipton account correctly?

Here is the details Skipton say you need to give to your new ISA provider:

https://www.skipton.co.uk/savings/isas/transferring-your-isa

From that information you don't provide your own name, the account holder name is "Skipton Building Society" Maybe that is where you are going wrong.

temporary_texan

OK scam may be too strong a word, but how do you describe antics that appear to be about Skipton hanging on to my money and finding reasons not to transfer my funds. To respond to your note. I used the Halifax forms to open my account and they asked for my account number sort code account name etc. They have all been provided correctly. Why are Skipton unable to provide me with an answer regarding the reason they have blocked the move. Just saying there is a mismatch is not good enough. I opened the ISA with Halifax May 22nd Skipton still have the money.

xylophone

Sorry cannot tell you, not allowed.#

This seems rather odd when in respect of an ISA transfer. Presumably Skipton did the usual checks and were satisfied on all points (including source of funds) when the account was opened.

Problems with ISA transfers are not uncommon - very often these seem to involve undue delays, whether because of system overloads, postal delays or indeed mismatch of details, particularly over whether a roll number or account number should be given to the new provider, or (in the case of Virgin Money) the correct sort code has been used.

When this type of thing has happened, new and old provider do not usually refuse to explain that this is the source of the difficulty.

The "cannot apologise, cannot explain" usually seems to occur when there is some sort of AML investigation, see here for example

https://forums.moneysavingexpert.com/discussion/6675261/santander-freezing-accounts-unfair-terms-any-ideas/p1

eskbanker

Seems to me that Hanlon's razor is likely to apply here, i.e. it's unlikely that Skipton is deliberately trying to hang onto the ISA but there'll be something in the communications between the two institutions that's causing the issue, and it could be an error by Halifax rather than by Skipton?

Perhaps worth submitting Subject Access Requests to both organisations, seeking copies of documentation relating to the attempted transfer, as this should allow identification of the root cause? If this unearths demonstrable fault by either party, then you'd have a reasonable case for claiming compensation for lost interest, assuming you were transferring from a lower rate to a higher one…

Albermarle

Problems with ISA transfers are a regular theme on this forum, although most providers get a mention at some time, not just Skipton or Halifax.

kaMelo

https://forums.moneysavingexpert.com/discussion/comment/82068736#Comment_82068736

You mentioned it was your name that had been shortened so correcting that was a possible solution but the details required by Halifax for the ISA transfer, as show above, require the account holder name to show "Skipton Building Society". Is this what you've put for the account name on the transfer form you supplied to Halifax?

If so then I'd echo @eskbanker in submitting SAR's to both companies to find out where the problem lay and identify any possible errors on their part.

paul235

My transfer from Skipton to Halifax failed because I requested a partial transfer but Skipton only allow full transfers. Halifax told me it was due to mismatch in details but Skipton said only full amount held in the ISA is allowed to be transferred. Halifax cancelled my transfer and asked to submit a new transfer request. My original transfer was before 31 May and would have qualified for £150 cashback.

bubieyehyeh

I have issues in past where new provider just used first and last name even though they had my middle name, and was rejected for details mismatch. I ask the old supplier what details they required (they needed middle name) and then told new supplier what to change. Felt they should have sorted it out between themselves.

UnsureAboutthis

Do what I do, but I don;t work so it's easier—phone them and get them to do it for you as you are on the phone they can instruct you step by step and ensure that everthing is in order.