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  3. ISA transfers out

ISA transfers out

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  • M Offline
    M Offline
    Mabbs9
    wrote on last edited by
    #26

    I'm still waiting for a transfer out. 5th September it showed as 'verified' by my new provider. Ombudsman rules suggest 30 calendar days for a S&S transfer. Any suggestions to check this is actually happening?

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    • N Offline
      N Offline
      Nik Burrows
      Global Moderator
      wrote on last edited by
      #27

      Hi Mabbs9

      You have mail

      Nik

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      • M Offline
        M Offline
        Mabbs9
        wrote on last edited by
        #28

        Received with thanks.

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        • P Offline
          P Offline
          PM3
          wrote on last edited by
          #29

          Curious . After the transfer ( out) of ISA, what happens to the inevitable small residual cash ? Does that transfer later into the ISA ? I would expect a reasonable wait timewhile settling dividends etc that are paid later , but what a month, 2 ....3 ?

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          • A Offline
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            Adam Kay
            Global Moderator
            wrote on last edited by Adam Kay
            #30

            Hi Paul,

            i would think 2 months would be sufficient. If you had dealings with a specific Quai official you could email them to ask for the balance to be remitted. If not I can action this for you if you wish. Checking for dividend receipts would be something I would recommend you do via the dashboard-I wouldn’t rely on the transfers team to do so. There is a small cash balance present

            Regards

            Adam

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            • P Offline
              P Offline
              PM3
              wrote on last edited by
              #31

              Adam Thanks. I'll let it lie another couple of weeks and then email the general help address.

              There is only £141 balance, but its a handy little amount to leave in the Vangauard ISA to use for instant trade fee , as one has to pay the fee with cash that resides in the ISA and not external and no othe way to put cash in( this year )without selling any units.
              Not like Cobens all inclusive fee eh !

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              • H Offline
                H Offline
                higgi
                wrote on last edited by
                #32

                There are certainly issues in moving ISAs from IM/Quai. I instructed back in June and am still waiting. If I talk to Vanguard they blame IM and vice Versa. I am told today that things are finally moving but the process is frustratingly painful!

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                • L Offline
                  L Offline
                  leef44
                  wrote on last edited by
                  #33

                  I have been waiting over two months for an ISA transfer out to Hargreaves Lansdown. Nik has been helping me follow up for the last week yet there is no joy. What needs to be done to get this to happen? The funds are sitting as cash except about £20 which is nothing compared to the interest which I am losing on the funds not moving.
                  I have offered that Cobens keeps the remaining change but just to transfer what is sitting in cash but I don't know how much longer I have to wait for anything to happen here.
                  This is very frustrating and just leaves a very bad feeling about the company. What can be done here?

                  N 1 Reply Last reply
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                  • L leef44

                    I have been waiting over two months for an ISA transfer out to Hargreaves Lansdown. Nik has been helping me follow up for the last week yet there is no joy. What needs to be done to get this to happen? The funds are sitting as cash except about £20 which is nothing compared to the interest which I am losing on the funds not moving.
                    I have offered that Cobens keeps the remaining change but just to transfer what is sitting in cash but I don't know how much longer I have to wait for anything to happen here.
                    This is very frustrating and just leaves a very bad feeling about the company. What can be done here?

                    N Offline
                    N Offline
                    Nik Burrows
                    Global Moderator
                    wrote on last edited by
                    #34

                    @leef44
                    Hi Leef

                    Apologies for the delays, as you are aware from our communication this week, I am pushing to get this competed for you. Unfortunately the issue lies with IM/Quai. I have a call with the senior team on Monday and expect to get this resolved for you then.

                    Nik

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                    • L Offline
                      L Offline
                      leef44
                      wrote on last edited by
                      #35

                      Thank you Nik.

                      Perhaps you could propose giving the client the option to abandon the small change remaining in funds since it costs the company more to withdraw than the amounts themselves. This would help expedite the process.

                      Frank

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                      The value of your investments can go down as well as up, and you may get back less than you invested.

                      Cobens a trading name of Astute Financial Management UK Limited is authorised and regulated by the Financial Conduct Authority. Registered Address: 4th Floor Peek House, 20 Eastcheap, London, EC3M 1EB. Registered in England and Wales No. 5850981.

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