ilmoro
Member of DD Central
'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 26, 2018 8:39:42 GMT
Bit surprised no reference to a 3rd party in t&C's AFAICS. Would have thought the fact that someone else has access to lenders info would need to be highlighted. Anyway from t&cs
"7.2 You may transfer all (but not part only) of the money in your account in the current tax year, together with all or parts of any funds (together with interest) in your account from previous tax years to another ISA Provider in accordance with the ISA Regulations and these conditions. You will need to contact your other ISA Provider in order to arrange a transfer and you can choose the date funds are transferred subject to us being allowed a reasonable period to implement that transfer. That reasonable period shall not exceed 30 days and shall be consistent with the requirements of the ISA Regulations. However you should note that funds in loans may take longer than this 30-day period to sell, if they can be sold at all, and could cause the transfer to happen outside of the 30 day period as part transfers are not possible."
Note the time limit for transfers not involving any liquidation of loans. Personally, as stated elsewhere, 30 days seems somewhat unreasonable but that's what HMRC guides for S&S/IFISA transfers
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Post by notascooby on Nov 18, 2018 20:22:54 GMT
Actually the transfer out from Assetz did happen in the end. I make it 5 weeks (ish), three phone calls, and three requests from HBOS. On the plus side, at least they did phone me to tell me £50 bonus had arrived. Overall, I rate AC above some of the other P2P (way above Ly! But that bar is quite low). They seem proactive when borrowers balk at paying up.
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hantsowl
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Post by hantsowl on Feb 15, 2019 11:46:06 GMT
Is there a charge for making a partial transfer of a previous years ISA from AC to another provider? I can't find any details in the FAQs or on this board. chris |
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Post by chris on Feb 15, 2019 12:38:00 GMT
Is there a charge for making a partial transfer of a previous years ISA from AC to another provider? I can't find any details in the FAQs or on this board. chris I don't believe so, but best to check with customer services.
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IFISAcava
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Post by IFISAcava on Feb 15, 2019 13:25:33 GMT
Is there a charge for making a partial transfer of a previous years ISA from AC to another provider? I can't find any details in the FAQs or on this board. chris not when i've done it
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hantsowl
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Post by hantsowl on Feb 22, 2019 20:59:22 GMT
Well, that was interesting. Posted a form on Monday to request a partial ISA transfer from AC to PL. Initiated a cash withdrawal from PropPartner on Tuesday. The ISA transfer completed Thursday morning with funds available to use. The cash withdrawal from PP hit my bank late on Friday. In other words it took less time to transfer the ISA (which included a form through the post) than it did to simply withdraw funds from PP. I have to commend both PL and especially AC for the speed with which the transfer took place.
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IFISAcava
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Post by IFISAcava on Feb 22, 2019 21:04:24 GMT
Well, that was interesting. Posted a form on Monday to request a partial ISA transfer from AC to PL. Initiated a cash withdrawal from PropPartner on Tuesday. The ISA transfer completed Thursday morning with funds available to use. The cash withdrawal from PP hit my bank late on Friday. In other words it took less time to transfer the ISA (which included a form through the post) than it did to simply withdraw funds from PP. I have to commend both PL and especially AC for the speed with which the transfer took place. Proplend have always been excellent - I've done may transfers to them. AC have been variable - they must have learned because I had one that took a couple of months and also had a stray £5000 credit in the mix.
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Post by ladywhitenap on Mar 10, 2019 11:07:31 GMT
I'm a complete newbie to AC (but not to P2P or IFISAs)
I have studied the AC IFISA FAQ but can't find anything about withdrawal fees to transfer from AC IFISA to another provider if I wanted to.
Would some kind soul who knows the answer, please reply here.
Thanks
LW
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,329
Likes: 11,549
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Post by ilmoro on Mar 10, 2019 11:53:49 GMT
I'm a complete newbie to AC (but not to P2P or IFISAs) I have studied the AC IFISA FAQ but can't find anything about withdrawal fees to transfer from AC IFISA to another provider if I wanted to. Would some kind soul who knows the answer, please reply here. Thanks LW No fees according to the T&Cs copy I have.
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Post by ladywhitenap on Mar 10, 2019 12:31:05 GMT
I'm a complete newbie to AC (but not to P2P or IFISAs) I have studied the AC IFISA FAQ but can't find anything about withdrawal fees to transfer from AC IFISA to another provider if I wanted to. Would some kind soul who knows the answer, please reply here. Thanks LW No fees according to the T&Cs copy I have.
Thanks very much Ilmoro
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Post by cmundo on Mar 16, 2019 17:16:58 GMT
I’m transferring my AC isa to Ratesetter. I think AC would have received my transfer request around 25 Feb, via RS and all cash was in my isa cash acc at that date. Nothing has happened since that I can see, do AC just sit it out until towards end of 30 working day window before transferring? Interest loss is obviously very annoying!
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littleoldlady
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Post by littleoldlady on Mar 27, 2019 21:24:04 GMT
Can you request a transfer of funds in the QAA or do you have to transfer them to the Cash Account, and if the latter do you have to turn off sweeping?
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hantsowl
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Post by hantsowl on Mar 27, 2019 23:02:59 GMT
Can you request a transfer of funds in the QAA or do you have to transfer them to the Cash Account, and if the latter do you have to turn off sweeping? I have done a couple of transfers recently, and I sell from (say) the GBBA and then withdraw the funds to the cash account ready for transfer. Because I have “invest idle funds” set, this money also shows in the QAA so interest is still being earned pending transfer out of the funds.
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littleoldlady
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Running down all platforms due to age
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Post by littleoldlady on Apr 3, 2019 10:26:50 GMT
Can you request a transfer of funds in the QAA or do you have to transfer them to the Cash Account, and if the latter do you have to turn off sweeping? I have done a couple of transfers recently, and I sell from (say) the GBBA and then withdraw the funds to the cash account ready for transfer. Because I have “invest idle funds” set, this money also shows in the QAA so interest is still being earned pending transfer out of the funds. Well AC have answered my first question - you do have to move funds from QAA to Cash yourself. I have not dared turned on “invest idle funds” for fear that it will sweep the funds back into the QAA so I will have some cash drag.
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hantsowl
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Post by hantsowl on Apr 3, 2019 10:42:44 GMT
I have done a couple of transfers recently, and I sell from (say) the GBBA and then withdraw the funds to the cash account ready for transfer. Because I have “invest idle funds” set, this money also shows in the QAA so interest is still being earned pending transfer out of the funds. Well AC have answered my first question - you do have to move funds from QAA to Cash yourself. I have not dared turned on “invest idle funds” for fear that it will sweep the funds back into the QAA so I will have some cash drag. No, it does not work like that. I am currently going through a partial transfer out of some ISA funds. I have moved the money to my cash account (as you have) but because I have "invest idle funds" set on, the money ALSO "displays" in my QAA to indicate that I am earning interest on it. If it were actually swept back into the QAA it would NOT show in my cash account. As mentioned above, I am currently going through this process so I can confirm that this works as I described.
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