Electronic transfers for cash ISAs?

Milarky

http://news.bbc.co.uk/1/hi/programmes/working_lunch/7355256.stm

Carol Knight from the Tax Incentivised Savings Association says they are working to speed up the process. "We are looking at the moment at the possibility of making the money transfer between banks electronically... and trying to avoid the use of paper going from one ISA manager to another, and having instead that communication undertaken by electronic methods," Carol said.

NB: Of all the High Street Banks and Building Societies, only Alliance and Leicester seems to be a member of TISA - so don't hold your breath

purplestar133

It is surprising 'in this day and age' that they still do things by paper and post. It's no wonder opening ISAs and transferring ISAs is taking so long.

Milarky

Of course there's nothing necessarily wrong with a cheque in the post (usually arrives and takes a day): Someone just has to be able to open the envelopes. "Waits of '75 days' can only be attributable to.. 'customer error'. This sort of thing has cropped up before.. and it has always been due to 'customer error'"

Said the lying machine....