Another ISA transfer delay!

hip999

My wife and I both requested transfers of our ISAs from B&B - this was done by our new ISA holders, Halifax, on 16th January 2008. They receive no response from B&B at all and so wrote again on 6th Feb. - still no response. We have looked up our accounts today and the money is still with B&B, five weeks after Halifax requested the transfers.
The fact that it is happening to both of us means that it is not a 'one-off'.
We had a guaranteed fixed rate with Halifax which we may now lose due to B&B's delay.
With B&B being cited in the press for having financial problems in the credit crunch, and their falling share price I suggest that the problem getting money from them is very worrying and I strongly suggest that no one deposits cash with them and anyone with an account gets their money out asap!!!!!!!!!!

10_66

Existing ISA managers should respond to the new ISA managers within 30 calendar days. Might be a silly question, but have you spoken to B&B yourself? If not, try ringing them and telling them they're not adhering to HMRC's guidelines. You could also try ringing HMRC's ISA helpline on 0845 604 1701.

Suzkin

hip999 wrote: »

My wife and I both requested transfers of our ISAs from B&B - this was done by our new ISA holders, Halifax, on 16th January 2008. They receive no response from B&B at all and so wrote again on 6th Feb. - still no response. We have looked up our accounts today and the money is still with B&B, five weeks after Halifax requested the transfers.
The fact that it is happening to both of us means that it is not a 'one-off'.
We had a guaranteed fixed rate with Halifax which we may now lose due to B&B's delay.
With B&B being cited in the press for having financial problems in the credit crunch, and their falling share price I suggest that the problem getting money from them is very worrying and I strongly suggest that no one deposits cash with them and anyone with an account gets their money out asap!!!!!!!!!!

I would say beware the Halifax - I saw the Assistant Manager of Halifax IN PERSON, and arranged the transfer of TWO of my ISAs (which just so happened to be with the SAME provider) over to the Halifax ON THE SAME DAY AT THE SAME APPOINTMENT USING TWO TRANSFER FORMS , as required. One of the ISAs transferred successfully over to the Halifax, and the other is STILL with my existing provider. Think they must have lost the paper work....I've written a letter of complaint to Halifax, and shall write to the Financial Ombudsman as well in due course. :mad:

Halifax also did me out of their 6.40% Fixed rate ISA (when it was available). I asked if I could transfer previous years ISAs in THREE times to the guy serving me. He said 'No'. Later on, I went into the town centre, and asked the same question, only to be told that YES I can. BUT by that times, the interest rate had dropped dramatically. When I raised this with the Assistant manager, he simply replied just saying that it was a 'staff training error'. :mad:
Their service is diabolical. It's distressing, and there was no acknowledgement that I had lost a good (at the time) product. Two of their staff also hung up on me, when I tried to talk with them on the phone about all this - so it's all in writing now.