moist
Member of DD Central
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Post by moist on Jun 26, 2019 7:36:49 GMT
So myself and Mrs Moist decide to withdraw a good amount from our ISAs.
Mine goes through fine, shows on the screen as pending , then the money comes off account. Then LW stop the cheque to the receiving ISA provider, no reason given. No response to questions
Mrs Moists request arrived with LW on same day as mine..... and nothing. Money still sat on account. Questions once again ignored.
Wonderful service......
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Post by Ace on Jun 26, 2019 8:23:14 GMT
That's rather alarming. I've never tried transferring out of LW as I considered it one of my safer p2p havens in the past. I have stopped adding to it recently though as I'm getting jittery about the state of their PF. Please keep us updated on how things progress.
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alanh
Posts: 556
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Post by alanh on Jun 26, 2019 8:53:04 GMT
Please keep us in touch with how this pans out. I have made a couple of withdrawals of a few £k from my non-ISA account in the last month and they have been fine.
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IFISAcava
Member of DD Central
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Post by IFISAcava on Jun 26, 2019 9:18:48 GMT
So I just made an ISA transfer from LW to GS
It was slow, but the money did arrive with GS after 4 weeks or so, and has been received and invested now in GS, but is still showing as a pending withdrawal on LW!
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Post by Matthew on Jun 26, 2019 15:38:26 GMT
So myself and Mrs Moist decide to withdraw a good amount from our ISAs. Mine goes through fine, shows on the screen as pending , then the money comes off account. Then LW stop the cheque to the receiving ISA provider, no reason given. No response to questions Mrs Moists request arrived with LW on same day as mine..... and nothing. Money still sat on account. Questions once again ignored. Wonderful service...... Hi moistApologies for your experience - doesn't sound great. I can hopefully clarify on the first point. The cheque was issued but was sent unsigned, so it was cancelled/recalled with a new cheque being issued the following morning. Hopefully this is all sorted now and funds are with your new ISA manager. I can't help on the second form without you emailing our customer experience team - I'm surprised to hear that your questions have been ignored. Feel free to contact me directly with your user number and I can also chase up internally if you would like. Kind regards
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Post by Matthew on Jun 26, 2019 15:40:47 GMT
So myself and Mrs Moist decide to withdraw a good amount from our ISAs. Mine goes through fine, shows on the screen as pending , then the money comes off account. Then LW stop the cheque to the receiving ISA provider, no reason given. No response to questions Mrs Moists request arrived with LW on same day as mine..... and nothing. Money still sat on account. Questions once again ignored. Wonderful service...... Note also that some ISA providers do require the whole process to be performed in paper and by cheque, which always slows down the process significantly. On the inbound side, we often experience large delays getting hold of the ISA history form - we can't credit the account until this is received, and some providers are particularly slow in issuing. On the positive side, we're likely to enrol in the automated ISA transfer service via Bacs in the coming months so transfers to registered members will be significantly quicker and less onerous on the customer. Thanks
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Post by Matthew on Jun 26, 2019 15:43:15 GMT
So I just made an ISA transfer from LW to GS It was slow, but the money did arrive with GS after 4 weeks or so, and has been received and invested now in GS, but is still showing as a pending withdrawal on LW! Hi IFISAcavaThe withdrawal on LW is aligned with the funds leaving our bank account i.e. once the cheque has been banked the other end, for client money reconciliation purposes, but there should only ever be a slight delay between the two. If you're still seeing a pending withdrawal please do send details to our customer experience team and they can look into this for you. Many thanks
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moist
Member of DD Central
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Post by moist on Jun 28, 2019 18:38:12 GMT
Well despite all the assurances...no change
Mrs Moists money still with LW...nearly 2 weeks now. Had a reply 2 days ago saying it would be done the following day.....
and mine.....lost in space. No cq received with the new ISA provider.....
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Post by Matthew on Jun 29, 2019 17:29:16 GMT
Well despite all the assurances...no change Mrs Moists money still with LW...nearly 2 weeks now. Had a reply 2 days ago saying it would be done the following day..... and mine.....lost in space. No cq received with the new ISA provider..... Hi moistIf you could direct message me with the relevant membership numbers I can chase up internally and find out the reason for the delay, but without this I can't really help. I'm sure there will be a good reason but it does sound strange. Thanks
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