ISA transfer date

LeilaDun · 24 September 2018 at 10:50AM

Hello,

I have been searching online for days for the answer to this question - I wonder if anyone can help.

When an ISA is transferred, how is the ISA transfer date allocated? I know that it needs to be agreed between the new ISA provider and the old ISA provider, I know that it is the date that reporting responsibility moves to the former from the latter, and I know that it is captured on the ISA transfer authority form by the new provider - but how do they choose the date? Do they just estimate a week or so from the date that the form is sent? I'm presuming that it must be more technical than that!

Any help hugely appreciated,

Thanks.

isasmurf · 24 September 2018 at 1:05PM

The "agreed" date is when the old manager has initiated the transfer after receipt of Acceptance of transfer and Ready to transfer messages from the new ISA manager. There don't actually agree the transfer will take place on a given date unless stipulated by the customer.

LeilaDun · 24 September 2018 at 3:22PM

Thanks for your speedy response - what I still don't understand is that all of the transfer authority forms I've looked at have a section at the end to be completed by the new ISA manager with a gap for a date and text to the effect of "the below date will be the transfer date of the ISA" or "I deem the date shown to be the transfer date of this ISA".

Where does this date come from?

Thanks

ISA transfer date

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