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Post by waryinvestor on Aug 29, 2018 16:53:33 GMT
Hi SteveT, Did you manage to transfer out to AblRate in multiple transactions or a single one ? I guess you had to post the transfer from(s) to AR for them to forward to FS ?
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SteveT
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Post by SteveT on Aug 29, 2018 16:59:21 GMT
In the end I got away with just a single transfer (FS cancelled a long-pending new loan just in time, in which I’d funds bid).
IIRC, the Ablrate transfer application process was online, but I’m not 100% certain. It was pretty painless anyway.
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Aug 29, 2018 22:15:25 GMT
Hi Stev,
Did you fill out an online form on Moneything's website and MT then forwarded that to FS electronically and FS accepted that ? I thought that a wet signature was always needed for any ISA Transfer ?
Depends on the receiving institution. Not a requirement of the rules.
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stev
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Post by stev on Aug 30, 2018 0:09:53 GMT
Hi Stev,
Did you fill out an online form on Moneything's website and MT then forwarded that to FS electronically and FS accepted that ? I thought that a wet signature was always needed for any ISA Transfer ?
Depends on the receiving institution. Not a requirement of the rules. Yes, FS accepted the online form electronically from MT but Nationwide required a wet signature, so it seems to vary according to the institution.
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technik
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Post by technik on Oct 7, 2018 20:26:33 GMT
Has anyone got any other experiences of other organisations they have transferred their IFISA out to in stages? Particularly interested in those that would allow electronic transfers to avoid the postal hassle that was previously mentioned. If that means it would be P2P then can look into it, but also any banks would be helpful to know about. Thanks in advance.
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mjc
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Post by mjc on Oct 8, 2018 10:48:35 GMT
Has anyone got any other experiences of other organisations they have transferred their IFISA out to in stages? Particularly interested in those that would allow electronic transfers to avoid the postal hassle that was previously mentioned. If that means it would be P2P then can look into it, but also any banks would be helpful to know about. Thanks in advance. I have transferred from FS to Proplend, AC and HNW. In all cases a ‘wet’ signature IS required. AC was by far the easiest with their electronic form, which you then have to print, and post back to them. HNW send direct to FS, and a photo copy by email to HNW. In ALL cases FS seem to transfer funds very quickly, ie electronically. However Nationwide are exceedingly slow, and do it by cheque. Do they just like to hang on to your money? You can borrow against some ISAs I have from NW ISA, to invest in AC to get their bonus but will repay by end of financial year. With some, you pay an exit fee, but not to make a loan from a flex ISA.
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technik
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Post by technik on Oct 8, 2018 12:07:29 GMT
I have transferred from FS to Proplend, AC and HNW. In all cases a ‘wet’ signature IS required. AC was by far the easiest with their electronic form, which you then have to print, and post back to them. HNW send direct to FS, and a photo copy by email to HNW. In ALL cases FS seem to transfer funds very quickly, ie electronically. However Nationwide are exceedingly slow, and do it by cheque. Do they just like to hang on to your money? You can borrow against some ISAs I have from NW ISA, to invest in AC to get their bonus but will repay by end of financial year. With some, you pay an exit fee, but not to make a loan from a flex ISA. Thanks, that's really helpful. Potentially just looking for something relatively convenient in terms of multiple transfers and stable until most of the IFISA is out, so will look at those you mentioned. Can you explain a bit more what you mean about borrowing against an ISA? I thought under no circumstances that was possible? Or are their some special types? Don't know if a pm conversation if any specifics you don't want to share but happy either way.
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Oct 8, 2018 15:03:21 GMT
I have transferred from FS to Proplend, AC and HNW. In all cases a ‘wet’ signature IS required. AC was by far the easiest with their electronic form, which you then have to print, and post back to them. HNW send direct to FS, and a photo copy by email to HNW. In ALL cases FS seem to transfer funds very quickly, ie electronically. However Nationwide are exceedingly slow, and do it by cheque. Do they just like to hang on to your money? You can borrow against some ISAs I have from NW ISA, to invest in AC to get their bonus but will repay by end of financial year. With some, you pay an exit fee, but not to make a loan from a flex ISA. Thanks, that's really helpful. Potentially just looking for something relatively convenient in terms of multiple transfers and stable until most of the IFISA is out, so will look at those you mentioned. Can you explain a bit more what you mean about borrowing against an ISA? I thought under no circumstances that was possible? Or are their some special types? Don't know if a pm conversation if any specifics you don't want to share but happy either way. I assume he's referring to a flexible ISA where you can withdraw the funds to invest elsewhere and still retain that amount of ISA allowance providing the withdrawn funds are replace before the end of the financial year
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mjc
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Post by mjc on Oct 8, 2018 17:38:51 GMT
Yes I was, I use Nationwide Flexible ISA almost like a bank account, so long as the money is returned before 6th April, and borrowed again a couple of days later. They pay 1.3%(?) and so I move that to current account and to my regular Bank a few minutes. Then to AC to invest at 5.1% and get the 1% bonus as well. But no FSCS. But it is taxable. 6.1% x 40% is better than 1.3%. HNW is Flexible ISA. Check out the ISA table at 4th Way to see which other ones are. www.4thway.co.uk/compare-ifisa/and yes Assetz C is flexible. Click on the link for “ISA details” IFISA details Key details Description Open to new lenders Yes Lenders can lend right away (subject to loans being available) Yes Minimum opening deposit for new ISA contributions £1 Minimum lending amount (if different to above) N/A Interest rates the same as non-IFISA accounts Yes Additional fees for lending through an IFISA £0 Transfers in (from existing cash ISAs, share ISAs and IFISAs) Description Minimum transfer-in amount £1 Transfer-in fee £0 Transfer-out fee £0 Extra features Description Lenders with ordinary accounts can automatically divert repayments and interest to their IFISA No Flexible ISA (you can withdraw and re-deposit new ISA money in the same tax year without losing your ISA allowances) Yes
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ilmoro
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Post by ilmoro on Oct 8, 2018 17:56:45 GMT
Yes I was, I use Nationwide Flexible ISA almost like a bank account, so long as the money is returned by 6th April, and borrowed again a couple of days later. By the 5th of April I'm sure you mean or before the 6th.
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