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Um... just a little worried.
I have a cash ISA with a fixed interest rate that matured today. I previously told the bank that they should transfer the money into another ISA on maturity. Looking at the back today, the Fixed rate ISA now has a balance of £0.00 and there is no more money in the other ISA. There was over £21K in it.
Is it normal for a transfer between ISA accounts with the same bank to not be instant?
I'll look again tomorrow, and if hasn't appeared in the new ISA then I'll probably visit the bank.
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As both accounts are with the same bank, I would expect it to appear by the next working day rather than take a conventional ISA-transfer timescale. Check the transaction history or messages for a maturity transfer reference. If it is still missing tomorrow, contact the bank and ask them to trace the maturity proceeds.
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The other thing that is worrying me is that I can still look at the transactions for the fixed ISA and a lot of transactions have disappeared way back to September last year, over £1K.
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Which bank - can you say?
Also, what kind of transactions have "disappeared"? Credits? Debits? Did you make these transactions? I assume its the record of the transactions you can't see (versus the money disappearing).
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Lloyds Bank.
Credits… monthly payments in and Interest payments. I can't see any transactions since the end of September last year.
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I don't know Lloyds systems. Perhaps you can't see transactions on-line when account is closed and the closing statement has been generated for example. Can you see any statements on-line? Is your new account showing today?
Have you tried asking Lloyds?
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Don't know about Lloyds, but my First Direct ISA went into limbo for a few days when I transferred within FD. I phoned and was assured "It's normal" and it did sort itself. ISAs seem to have their own quirks depending on the supplier so i wouldn't worry over much
Member of "Rubbish at Radishes" club0 -
I spoke with Lloyds thru their webchat system and was told it would take 15 days to complete the transfer. However, I looked at the bank this morning and it has all appeared in the new ISA.
Panic over… phew!
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