moist
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Post by moist on Jan 1, 2020 17:19:17 GMT
Well here we go again, requested an ISA transfer from LW to a well known Building Society. 4 weeks later, LW deny having received the request (its been sent twice registered delivery) The Building Society are at a loss what to do......and LW have not replied to my messages. Exactly the same happened last time! Both myself and Mrs Moist are affected Any chance of some action Matthew?  Makes you wonder........ |
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nairda
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Post by nairda on Jan 2, 2020 13:18:01 GMT
I've had a partial ISA transfer out waiting to go since 4th December. I contacted Lending Works CS just before Christmas and they said they had received lots of transfer out requests and they were a bit behind but she thought mine would be complete before New Year. Clearly that has failed.
Not impressed.
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Post by Matthew on Jan 2, 2020 16:46:08 GMT
Well here we go again, requested an ISA transfer from LW to a well known Building Society. 4 weeks later, LW deny having received the request (its been sent twice registered delivery) The Building Society are at a loss what to do......and LW have not replied to my messages. Exactly the same happened last time! Both myself and Mrs Moist are affected Any chance of some action Matthew? Makes you wonder........ Hi moistSorry to hear your ISA transfer hasn't been actioned in line with our usual SLA - that does sound very odd for it to take 4 weeks. I have requested an update from our CX team - and hopefully this will be resolved for you ASAP. Apologies on behalf of LW.
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Post by Matthew on Jan 2, 2020 16:47:18 GMT
I've had a partial ISA transfer out waiting to go since 4th December. I contacted Lending Works CS just before Christmas and they said they had received lots of transfer out requests and they were a bit behind but she thought mine would be complete before New Year. Clearly that has failed.
Not impressed.
Hi nairdaSame as the above comment really - I'm not sure why the transfer out hasn't yet been processed but will provide an update as soon as I can. Matt
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Post by Matthew on Jan 3, 2020 15:36:36 GMT
Hi guys
Hopefully you will have heard from our CX team in the last day or so. If not, please email cs@lendingworks.co.uk and mark it ATTENTION ISA MANAGER BLAIR and this will be dealt with as a matter of priority.
Many thanks and apologies for any delay in processing your transfer.
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nairda
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Post by nairda on Jan 7, 2020 19:31:26 GMT
Well, I received an e-mail from CS yesterday (Monday) afternoon promising the money would be moved the same day using faster payments. It is now 19:30 on Tuesday and the money is still sitting in my Lending Works account.
E-mail sent to CS at 10:51 this morning so far unanswered.
I am NOT a happy bunny 
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Post by Matthew on Jan 9, 2020 12:31:59 GMT
Dear all
Having now fully investigated the issue with our Head of Operations, we have established the reasons for the delays noted on this thread and unreservedly apologise for the poor experience you’ve had – this is certainly highly unusual. The delays unfortunately were caused by a number of factors, including issues with recorded post being delivered to our head office and delays in the bank verification process for electronic transfers to new ISA managers.
We have identified a number of improvements which will be made to both communications and the process itself which should ensure issues like this do not happen going forward. Our customer service team will be in touch with you regarding organising some compensation for your inconvenience.
If there’s anything else I can help with, please let me know.
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nairda
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Post by nairda on Jan 9, 2020 20:46:21 GMT
Thanks Matthew. I know things can go wrong but in the end you came good which is what matters. I can confirm the transfer is complete.
I might add that my only reason for withdrawing was that between us, my wife and I felt rather overexposed to lending Works so we decided I would withdraw all my investment and she would keep hers.
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moist
Member of DD Central
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Post by moist on Jan 11, 2020 8:26:26 GMT
Well after all this, both my accounts are still showing as 'pending withdrawl', and no contact ref compensation for the hassle/loss
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Post by buzzablinio on Apr 17, 2020 17:49:37 GMT
So, on average how long does it take Lending Works to transfer an ISA to another provider? Bearing in mind the transfer can't be anything other than cash I would have thought quite quickly, though obviously under the current virus situation it may take longer. Past experiences anyone?
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Post by Ace on Apr 17, 2020 20:27:06 GMT
I posted the transfer forms on 3/12/2019 to transfer from LW to AxiaFunder. The cash turned up in my AF account on 20/1/2020.
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Post by buzzablinio on Apr 18, 2020 9:21:34 GMT
I posted the transfer forms on 3/12/2019 to transfer from LW to AxiaFunder. The cash turned up in my AF account on 20/1/2020. I misread that - didn't see it spanned two months... they managed to drag a cash transfer out for nearly 7 weeks - that is pretty poor.
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Post by Ace on Apr 18, 2020 9:26:49 GMT
I posted the transfer forms on 3/12/2019 to transfer from LW to AxiaFunder. The cash turned up in my AF account on 20/1/2020. I misread that - didn't see it spanned two months... they managed to drag a cash transfer out for nearly 7 weeks - that is pretty poor. Yep, impossible to say which end was at fault though.
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johni
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Post by johni on Apr 18, 2020 15:49:35 GMT
Completed transfer in 5 weeks completed this week part of issue was LW couldn't send cheque due to covid and covid hitting part way through. Building society initially wouldn't allow direct transfer. But all got resolved.
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mogish
Member of DD Central
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Post by mogish on Jan 28, 2021 11:43:16 GMT
Completed transfer in 5 weeks completed this week part of issue was LW couldn't send cheque due to covid and covid hitting part way through. Building society initially wouldn't allow direct transfer. But all got resolved. Anyone moved an ISA from LW recently? If so how long did it take to move it and did it go smoothly?
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