ICESAVE ISA - delays in transferring in

heartman

Stormy wrote: »

I think its down to the transferring bank. I have 3 transfers, Egg, Nationwide and B&B. The Egg and Nationwide ones went through in a week.

For some reason Bradford and Bingley are dragging their feet by the looks of it to the maximum 30 days. Annoying indeed but not much I can do about it. Stinks really. I wrote twice to B&B who just keep telling me its "being processed in line with the 30 days HMRC guidelines".

Whats also annoying is B&B have dropped their rates, no doubt by the time my money gets to Icesave they will drop their rates too. lol

Mike

I've just got the Icesave form so I can do a transfer from my B&B ISA to them.
It asks for a existing provider sort code and account number.

Can you let me know if it's ok to put down just the account number.
With B&B I can't see/read anything about a sort code when I log in

Many thanks

frankie

When I transferred my B&B to Lloyds at my local branch on their computer they just left the sort code blank as it wasn't a required field.

I think if you just put in your account number it will be fine.

Optimist

heartman wrote: »

I've just got the Icesave form so I can do a transfer from my B&B ISA to them.
It asks for a existing provider sort code and account number.

Can you let me know if it's ok to put down just the account number.
With B&B I can't see/read anything about a sort code when I log in

Many thanks

I have done the same, phoned B&B up and they say they don't have a sort code so just to put the account number in.

Hope you get better luck than me transferring. My first set of forms were not received according to Icesave and I have had to send them again

Limes

ICESAVE have a habit of rolling all their ISA transfer requests up into a big pile and then handing them all over at once to the existing ISA provider. It's probably sensible on their part to avoid costly dribs and drabs of paperwork going out of their offices but it will have a knock-on effect for people processing paperwork at the organisation that suddenly receives 2-300 requests all at once for transfers out.

It's not all the other organisations' faults, they can't necessarily dictate when they are suddenly going to receive an influx of requests from a provider insistant on clogging up others processing systems.

Having said that I believe this is a fairly standard practice for providers who allow transfers in. There have been some bigger names than Icesave who have recently been accused of dragging their heels on ISA openings as well and I would think that there is some element of this sitting on requests and then passing them all on at once that has caused this.