Transfering YBS eISA to ICESAVE, best time now?

Bisoy

Hi Guys,

I have opened an easy access ISA with ICESAVE at the start of the financial year but still hold previous ISA subscriptions with YBS. I was about to request transfering it to ICESAVE but have read so many stories in here about delays that took not only a month but few months. AFAIK that they don't backdate any interest and will only pay once they received the funds. Hence, would it be the best time now to request transfer from YBS? Does any of you guys had recent experience with transfers between the two?

cheers

pmorrison_2

A couple of months ago I transfered my Abbey Easy ISA to ICESAVE, it took about 3 weeks in total for the money to go from one account to the other, your current supplier have a legal requirement to hand over the money in a certain time (maybe 14 days, not sure though) and once that was done for me the money was in the ICESAVE account around a week later. It was much easier than I expected it to be!

Bisoy

My own understanding is that ISA provider/lender has 30 days to complete the transfer( unsure if it's a legal requirement). So, what will happened if it has gone more than 30 days and hasn't not been received? Will they be liable for the lost interest while on transit?

cheers

paulboy83

I just transferred from NS&I to Icesave and the transfer was done within a week, perhaps I was lucky, but there can't be much of a delay now, if i'm typical!