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Post by barnsleybiker on Jan 31, 2022 15:49:28 GMT
my other ISA has been set up but is still waiting for the zopa isa transfer out, I've sent emails but no Zopa reply, phone calls just result in a long wait and cut off after the we are busy message.
Has anyone actually had a successful Zopa ISA transfer out yet? if so what date did you set up your new ISA? thx All
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taffy
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Post by taffy on Jan 31, 2022 16:22:33 GMT
I set up an ISA transfer for two cash accounts with IG on the 16 January. The status on the IG platform is "Transfer documents processed, awaiting valuation report from broker", whatever that means. So, after two weeks nothing from Zopa and no transfer.
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Post by barnsleybiker on Jan 31, 2022 18:39:27 GMT
same here Taffy, 2nd week in January for me and my new ISA is just sat waiting to be fed, I tried the Zopa chat thingy and got nowhere, got a real person once who wasn't able to hold a conversation, since then I get on hold and eventually my phone gets cut off, emailing gets a response but its just says they're busy.
they didn't hold back shutting our investment accounts asap, but this isa transfer seems to be real foot dragging exercise! please post if you get a successful transfer, ill do the same, ta.
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Greenwood2
Member of DD Central
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Post by Greenwood2 on Jan 31, 2022 21:00:44 GMT
I made a couple of partial transfers out as funds became available which didn't take too long. The final transfer of the rest is taking a good while.
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shirehorse
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Post by shirehorse on Feb 1, 2022 9:08:30 GMT
Mine took six weeks for a small cash-only balance, just completed a few days ago.
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Post by barnsleybiker on Feb 1, 2022 18:45:28 GMT
got an email reply from zopa regarding transferring my Zopa isa out,
Zopa email response.. "The usual wait time is 30 days once we are able to access all the correct information, but due to a high volume of ISA transfers between different providers this may not be the case. I would like to apologies to you. "
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taffy
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Post by taffy on Feb 2, 2022 10:38:58 GMT
Just as long as Zopa are paying us the Zopa Personal Loan interest rates on the funds they are holding, currently 15.4% pa. Not many retailers accept apologies as legal tender unfortunately, so neither do I.
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Greenwood2
Member of DD Central
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Post by Greenwood2 on Feb 2, 2022 12:10:15 GMT
Just as long as Zopa are paying us the Zopa Personal Loan interest rates on the funds they are holding, currently 15.4% pa. Not many retailers accept apologies as legal tender unfortunately, so neither do I. Seems like 30 days is the maximum it should take, so Zopa are inside the rules.
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taffy
Posts: 127
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Post by taffy on Feb 2, 2022 13:46:06 GMT
According to MoneyFacts (https://moneyfacts.co.uk/isa/guides/things-worth-knowing-about-isa-transfers/#)
"ISA providers should complete the transfer of your ISA in 15 working days or less. If they fail to meet this then they should compensate you paying the interest rate offered by the new ISA provider".
Perhaps they have got that wrong, but I doubt it.
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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
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Post by ilmoro on Feb 2, 2022 15:48:40 GMT
According to MoneyFacts (https://moneyfacts.co.uk/isa/guides/things-worth-knowing-about-isa-transfers/#) "ISA providers should complete the transfer of your ISA in 15 working days or less. If they fail to meet this then they should compensate you paying the interest rate offered by the new ISA provider". Perhaps they have got that wrong, but I doubt it. Thats for cash ISA (which they state), where the 15 days is mandatory, S&S and IFISA are 30 days and thats only guidance, no comeback for longer
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Greenwood2
Member of DD Central
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Post by Greenwood2 on Feb 2, 2022 15:54:13 GMT
According to MoneyFacts (https://moneyfacts.co.uk/isa/guides/things-worth-knowing-about-isa-transfers/#) "ISA providers should complete the transfer of your ISA in 15 working days or less. If they fail to meet this then they should compensate you paying the interest rate offered by the new ISA provider". Perhaps they have got that wrong, but I doubt it. I think the 15 day rule is cash ISA transfers other types can be longer. I read somewhere that HMRC guidance is 30 days, I haven't tried to track that down, but 4th Way say: 'IFISA transfers are supposed to be completed within 30 days. If it takes longer and you are not happy with the explanation, you can complain to the Financial Ombudsman Service, which has the power to force the transferring company to compensate you.'Edit: Crossed with above.
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Post by fuzzyiceberg on Feb 3, 2022 9:14:17 GMT
My transfer out was completed on 31 Jan - money received by my S&S ISA provider. Not bad as they only received the request from my stockbroker around 20 Jan. So thats it. Nothing left in Zopa now.
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Post by barnsleybiker on Feb 9, 2022 17:57:30 GMT
9th Feb, got a zopa email today saying isa transfer will be another 30 days, what a shower! they cause a  -storm then don't have the staff to deal with it - PAH! |
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easylender
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Post by easylender on Feb 9, 2022 20:38:10 GMT
9th Feb, got a zopa email today saying isa transfer will be another 30 days, what a shower! they cause a  -storm then don't have the staff to deal with it - PAH! My transfer out completed next day after receiving that message. I hope yours does too.
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Post by mogish on Feb 10, 2022 16:21:19 GMT
Called them yesterday. Was told they are working on transfers still and have 30 days from when mine was received, allegedly 26th.
Call it coincidence, transfer out msg recieved this afternoon.
Zopa has left the building.
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-storm then don't have the staff to deal with it - PAH! 
-storm then don't have the staff to deal with it - PAH!