Transfer Cash ISAs Discussion Area

Catewithac

Hi folks, Im also having trouble in transferring an old ISA over into my new Icesave Isa. I filled the form to have it transferred way back in Feb from the RBS, and heard nothing back for three months. When I phoned Icesave to find out what had happened they said they had sent the form but had been ignored by RBS. I phoned my local bank, and they said it had probably been sent to the wrong address, and that there was no trace of it! They gave me another address in Liverpool to give to Icesave, which I duly did and got a letter back from them three weeks ago saying the new form had been sent off.
Ive not heard anything since. The old Isa is still residing in my RBS account much to my annoyance. RBS seem very loath to part with it.
Where do I go from here???
Catewithac

I-LOV-MONEY

Catewithac wrote: »

. The old Isa is still residing in my RBS account much to my annoyance. RBS seem very loath to part with it.
Where do I go from here???

Well the good news is that it is in your RBS account. It could be lost between RBS and Icesave and therefore gaining no interest.

If you don't get satisfaction from ringing your branch; next time ask for the Manager. If you get no success there, there is a complaints procedure on their website.

Catewithac

Te he he.......thanks for the reply AND the upbeat reminder that my money is at least residing somewhere... although not be it where I would wish!!!!!!
I ll have another go at my bank n then lodge a vociferous complaint on the site you gave me!!!! Cheers! Cate

meboy99

I was wondering what experiences people had when transferring their cash ISAs from HSBC? Did it go well and how long did it take? I presume there's no penalties/charges for moving from HSBC? and where did you transfer to?

I've had a cash ISA with them for a number of years now and I'm thinking of moving.

Any feedback would be appreciated.

stars_bright

I have had an A&L cash ISA for a few years. Last week I went online and requested them to take some money from my nominated account as a payment into my ISA. A few days later the payment hadn't been taken so I sent a message abd they repilied saying that it would take 4 working days and it would go through on 3rd July. The money still hadn't been taken on 3rd July so I sent another message, and then again on 4th July when it still hadn't gone. Today when I logged in I had 3 messages from A&L, one saying that they are very busy and it could take up to 30 days to process. the other 2 messages said that because I gadn't paid any money into the ISA during te lat tax year, my ISA is now dormant and I can't put any more money in. WOuld have been nice if they had told me before! I don't know whether I have been getting any interest on my money if the account has been dormant. I am thinking of opening an HSBS ISA instead. Although they do not accept transfers from other ISAs I could simply withdraw the cash and my partner and I could each open a HSBC ISA and the transfer in would be below the max for the year. The only drawback is that we would also have to open a HSBC bank account also, which we are told we would have to credit with £10 per month, although presumably we could withdraw it ever month also. WHat do peaople thinK?

soozimay

10_66 wrote: »

If you want further confirmation try ringing the HMRC ISA helpline (0845 604 1701 Monday -Thursday 8.30-5.00, Friday 8.30-4.30), rather than Barclays, because if this is what they're telling you, they are mis-informing you.

Thanks 10_66 for the HMRC helpline number...I've just called and they were very helpful. More in a following post..

soozimay

** The 30 DAY transfer window - fact or fiction? **

I've just been advised that my 'new' ISA provider, Newcastle Building Society, has CANCELLED my transfer request for my old ISA because they didn't receive the funds from the old provider within the 30 day limit, apparently in line with section 4.30 of the HMRC guidelines.

Having read the guidelines myself, I called the HMRC to check if that's really what they mean. They said, 'no there isn't a 30 day rule which applies to the new provider receiving funds. The old provider however should make funds available within 30 days of receiving the request from the new one.'

The HMRC were very surprised that the Newcastle cancelled the transfer without my permission and hadn't heard of this happening before. Has anyone else had this experience with Newcastle Building Society or any others?

susanbythesea

Hi folks,
l have currently got an isa with alliance and leic which l do not pay regularly into plus a bonus savings type account with halifax which l make monthly payments of £25 to , l took this out when the interest rate on it was considerably higher than the isa's was offering but now the rate is down to 4.3%, l have been looking for a good cash isa/savings account which will a. take the transfer from my current isa and b. will allow me to continue regular payments into but l keep hitting brick walls, often online it does not state that either a. or b. is not allowed and l then find upon calling their is conditions or only available if a new / old customer...can anyone suggest where l try next, l do not need to make withdrawals .
many thanks Sue

I-LOV-MONEY

susanbythesea wrote: »

Hi folks,
l have currently got an isa with alliance and leic which l do not pay regularly into plus a bonus savings type account with halifax which l make monthly payments of £25 to ,

Hi Sue (hope you are enjoying the sea, it is like the sea in London ... very wet !!)

I don't know about the ISA, but Halifax are currently offering a Regular Savings Account at 10% (obviously this is taxed). I wonder if this beats your Bonus account?

The only trouble with these regular payment accounts, is that on month 1 your £25 is earning 10% for the rest of the year, month 2 a new £25 earns 10% for 11 months, month 3 ...10 months, until month 12 ... 1 month, which is only .833% ! If you have the funds available look for a high paying deposit account.

susanbythesea

Hi money lover!!...(yep its super wet down here in Southsea) , l looked at the halifax 10% and the alliance and leic 12% but neither will both accounts have to start from zero so cannot gain from transfering a lump sum in , some isa's do allow both transfering in and monthly payments but its hard work weeding out which are the ones ...Birm midshires on 6.15% seem to and Skipton even better at 6.5% but only a branch account so not sure as the nearest one is 40 miles away....