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Post by davidspindle on Apr 14, 2023 15:18:05 GMT
I noticed a few days ago that a new message on the website implied that the flexibility to restore cash withdrawals from AC ISAs within the same tax year had been removed. I sent an e-mail pointing out that was inconvenient and would result in frequent small ISA transfers-out or cash accumulating without earning interest. I suggested they restore the feature, and was pleasantly surprised to receive an e-mail from 'Ben' the following day, saying that the feature would be restored 'in the coming weeks'.
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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 Apr 14, 2023 16:12:44 GMT
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warn
Member of DD Central
Curmudgeon
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Post by warn on Apr 16, 2023 10:21:04 GMT
Couldn't have put it better myself.
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Post by davidspindle on Apr 17, 2023 22:03:50 GMT
I don’t spend any time on social media and very little on this forum so I did not understand the arcane emojis posted by the two prolific posters above. Fortunately, my pre-teen grandchildren are expert in matters puerile and told me this was a snide insult that suggested I started this thread on behalf of Assetz Capital. Nothing could be further from the truth. Here is why:
Assetz have form on this point. They announced their withdrawal from retail lending last December and the facility to deposit ISA cash was withdrawn and, by implication, so was the facility to restore it. I had withdrawn a five-figure sum since April 6 2022, with the intention of restoring it for a few days across the fiscal year end, in order to get some interest meanwhile and to preserve its ISA status, without the bother of an ISA transfer. Transfers-out from p2p are still a manual, paper-based- process, which is prone to error, and several of mine have taken two or three attempts. I contacted Assetz on December 18, making the point and asking for reassurance. It took a couple of months of repeated asking by myself and other family members before they responded and restored the facility. Flexible ISAs are disadvantageous to Assetz in a run-down situation. Money left in ring-fenced cash accounts would be earning interest for Assetz and multiple transfers are expensive for them. Their previous adjustments of the rules have often disadvantaged lenders. It may be that they were taking legal advice before responding.
I don’t know whether anyone else raised this with them (or on this forum) and I am not claiming that our persistence secured the result.
The fact that they responded immediately and positively to my complaint after they removed the facility again on April 6 is cause for celebration and that is why I started this thread. It may just be a case of adjusting their software and it will be done soon. I will keep on the case, as necessary.
I don’t understand why anyone would expect Assetz to leak this by such an obscure route, but then I have a life outside this forum and no interest in conspiracy theories.
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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: 10,848
Likes: 11,077
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Post by ilmoro on Apr 18, 2023 0:07:42 GMT
I don’t spend any time on social media and very little on this forum so I did not understand the arcane emojis posted by the two prolific posters above. Fortunately, my pre-teen grandchildren are expert in matters puerile and told me this was a snide insult that suggested I started this thread on behalf of Assetz Capital. Nothing could be further from the truth. Here is why: Assetz have form on this point. They announced their withdrawal from retail lending last December and the facility to deposit ISA cash was withdrawn and, by implication, so was the facility to restore it. I had withdrawn a five-figure sum since April 6 2022, with the intention of restoring it for a few days across the fiscal year end, in order to get some interest meanwhile and to preserve its ISA status, without the bother of an ISA transfer. Transfers-out from p2p are still a manual, paper-based- process, which is prone to error, and several of mine have taken two or three attempts. I contacted Assetz on December 18, making the point and asking for reassurance. It took a couple of months of repeated asking by myself and other family members before they responded and restored the facility. Flexible ISAs are disadvantageous to Assetz in a run-down situation. Money left in ring-fenced cash accounts would be earning interest for Assetz and multiple transfers are expensive for them. Their previous adjustments of the rules have often disadvantaged lenders. It may be that they were taking legal advice before responding. I don’t know whether anyone else raised this with them (or on this forum) and I am not claiming that our persistence secured the result.
The fact that they responded immediately and positively to my complaint after they removed the facility again on April 6 is cause for celebration and that is why I started this thread. It may just be a case of adjusting their software and it will be done soon. I will keep on the case, as necessary. I don’t understand why anyone would expect Assetz to leak this by such an obscure route, but then I have a life outside this forum and no interest in conspiracy theories. Apologies, that wasnt the meaning it was supposed to convey ... I use that emoji to indicate stealth, people working behind the scenes. There is quite a lot of stuff Assetz errors that get fixed without most lenders being aware (lot of Q&A hidden) ... in this case it was supposed to be a subtle indication that AC were already likely aware of the flexible issue before your post hence the quick positive response.
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Post by Ace on May 5, 2023 20:20:32 GMT
I emailed a photograph of a completed ISA transfer form to CrowdProperty to transfer the cash balance from my AC ISA at 16:43 on 2/5/2023. I received a notification email from CP to say that the transfer was complete at 20:53 today (5/5/2023). Very well done to both. That's quicker than a cash withdrawal on some sites.
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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: 10,848
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Post by ilmoro on May 6, 2023 11:39:53 GMT
I emailed a photograph of a completed ISA transfer form to CrowdProperty to transfer the cash balance from my AC ISA at 16:43 on 2/5/2023. I received a notification email from CP to say that the transfer was complete at 20:53 today (5/5/2023). Very well done to both. That's quicker than a cash withdrawal on some sites. Bit slow, my transfer to AE was done in 12hrs 
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Post by davidspindle on Aug 30, 2023 23:52:59 GMT
I noticed a few days ago that a new message on the website implied that the flexibility to restore cash withdrawals from AC ISAs within the same tax year had been removed. I sent an e-mail pointing out that was inconvenient and would result in frequent small ISA transfers-out or cash accumulating without earning interest. I suggested they restore the feature, and was pleasantly surprised to receive an e-mail from 'Ben' the following day, saying that the feature would be restored 'in the coming weeks'. This facility has now been restored. The IFISA dashboard now shows 'your remaining ISA allowance' for previous years. This is equal to any cash withdrawals made since 6 April 2023. I transferred the cash in my standard account to the IFISA and will make a bank transfer on Thursday to restore the rest of the allowance. I am hoping that it gets credited before the transfer-out I requested last week occurs.
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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: 10,848
Likes: 11,077
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Post by ilmoro on Aug 31, 2023 8:27:34 GMT
I noticed a few days ago that a new message on the website implied that the flexibility to restore cash withdrawals from AC ISAs within the same tax year had been removed. I sent an e-mail pointing out that was inconvenient and would result in frequent small ISA transfers-out or cash accumulating without earning interest. I suggested they restore the feature, and was pleasantly surprised to receive an e-mail from 'Ben' the following day, saying that the feature would be restored 'in the coming weeks'. This facility has now been restored. The IFISA dashboard now shows 'your remaining ISA allowance' for previous years. This is equal to any cash withdrawals made since 6 April 2023. I transferred the cash in my standard account to the IFISA and will make a bank transfer on Thursday to restore the rest of the allowance. I am hoping that it gets credited before the transfer-out I requested last week occurs.
Did the transfer from standard to IFISA work? I tried it & it got rejected. IIRC the only means to replace cash is via a bank transfer direct to the IFISA account.
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Post by davidspindle on Aug 31, 2023 11:51:12 GMT
Yes, both the internal and external transfers worked.
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