dermot
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Post by dermot on Jun 11, 2024 17:55:31 GMT
I've been withdrawing from my AC ISA account to a conventional bank account, as I'm retired and it is convenient to have a bit of extra pin money every month; I'm averaging a few hundred most months, rather more this month.
I have a chunk of taxable cash in Chase, so I'm now thinking I should look at preserving the tax free nature of the ISA and spending the taxable cash there, maybe transferring AC returns to my cash ISA Chase bank (or other account, perhaps my Unbolted ISA)?
Anyone doing transfers out of a few hundred pounds monthly? Any pushback from the target organisation for repeated relatively small investments?
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Post by oppsididitagain on Jun 11, 2024 18:54:52 GMT
I was doing £100+ every 2 weeks, very simple to do - depending on who you are transferring it to.
However due to many people doing lots or transfers ,AC will be bringing in a £35 charge very soon for ISA Transfers. Scandalous in my opinion but AC do what they want when they want .
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Post by bravos on Oct 11, 2024 17:19:28 GMT
I was making monthly ISA transfers for over a year but Shawb***k recently closed that facility and I am struggling to find another provider who will accept piecemeal monthly transfers in - some do but they stipulate that the transfers in have to come from your nominated bank. I am asking one if the nominated bank could be AC or their clearing bank (response awaited).
If anybody has such a flexible ISA transfer in institution it would be really good to know. Thank you.
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dh1
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Post by dh1 on Oct 11, 2024 18:02:02 GMT
bravos The problem I've had with cash IFISA (ie p2p ISA) transfers out and in has been getting the receiving institution to understand what's going on. I have now settled on the Skip*** Building Society, who, with gentle prompting, appear to be able to handle transfers in without too much hassle. You can then easily transfer elsewhere if you want to.
I don't think you can (with SBS) set up an automated monthly transfer arrangement but you can simply put a "new" (in fact simply an identical form with a new date) transfer request for a designated amount each month. Not sure why you would want to, though!
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scooter
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Post by scooter on Oct 11, 2024 18:21:06 GMT
I was making monthly ISA transfers for over a year but Shawb***k recently closed that facility and I am struggling to find another provider who will accept piecemeal monthly transfers in - some do but they stipulate that the transfers in have to come from your nominated bank. I am asking one if the nominated bank could be AC or their clearing bank (response awaited). If anybody has such a flexible ISA transfer in institution it would be really good to know. Thank you. "moneybox" app is great. Transfer can happen in less than 24 hours. All on app, no form filling. Can select AC from dropdown list. Sign electronically.
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Post by bravos on Oct 15, 2024 16:21:08 GMT
bravos The problem I've had with cash IFISA (ie p2p ISA) transfers out and in has been getting the receiving institution to understand what's going on. I have now settled on the Skip*** Building Society, who, with gentle prompting, appear to be able to handle transfers in without too much hassle. You can then easily transfer elsewhere if you want to.
I don't think you can (with SBS) set up an automated monthly transfer arrangement but you can simply put a "new" (in fact simply an identical form with a new date) transfer request for a designated amount each month. Not sure why you would want to, though!
Thank you again dh1. I have just spoken to a lovely lady at Skip*** and the only "issue" is that (other than the first transfer from Sha******) they need a "wet" signature for each transfer from Assetz Capital, which will cause a slight delay - but at least it is Freepost - whereas Sha****** accepted a photograph of each monthly transfer form which I emailed to them to effect each transfer in. This is apparently an "Assetz Capital thing" because they are registered as a "manual transfer" organisation. I think I remember asking AC in the past and being told they were electronic, but "computer says" otherwise. Presumably, you have to post a transfer form to them each time? Anyway, it certainly seems to fit what I need and I am very grateful to you for pointing me in their direction.
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dh1
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Post by dh1 on Oct 15, 2024 17:52:58 GMT
No problem, bravos . Happily, I have a Ski**** branch locally so I just print off a form I've pre-filled with the correct details, sign it and drop it in by hand ... they're off.... |
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Post by oppsididitagain on Oct 15, 2024 21:44:09 GMT
I have a cash ISA with Shawbrook, you can send them a photo of the ISA transfer form. Who then send it onto AC. Just white out the date and re submit every time you wanna do a transfer.
Then you can electronically transfer the ISA to Trading212 currently 5.10% FSCS protected apparently . takes about2-3 working days all done online,.
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ashtondav
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Post by ashtondav on Oct 16, 2024 7:49:24 GMT
Why is it inappropriate to type the names of these institutions? Why the need for ***s
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Post by bravos on Oct 16, 2024 16:06:22 GMT
I have a cash ISA with Shawbrook, you can send them a photo of the ISA transfer form. Who then send it onto AC. Just white out the date and re submit every time you wanna do a transfer. Then you can electronically transfer the ISA to Trading212 currently 5.10% FSCS protected apparently . takes about2-3 working days all done online,. That is what I used to be able to do. In August I sent the usual form and they put a note in the secure messages saying that they had "bben processing them in error" and wouldn't do any more. It seems they changed their T&Cs in about March time (which I didn't notice). I initially got quoted a load of T&C stuff and decided to escalate the matter as the dialogue just seemed to me that they didn't understand. It got escalated to their complaints resolution team and the agent there explained the position. They refused to make an exception or process the amount that had, by then, been sitting in AC for nearly 3 months. Keep an eye out as they may "spot the error" with you as well - and you may need to follow the suggestions in this thread.
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Post by oppsididitagain on Oct 17, 2024 11:41:48 GMT
Im not sure why they have done that to your forms, or restricted your account. Ive done 2 transfer already in October and no problems. The 2nd page I always put - All available cash. See attached photo Attachments:
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Post by oppsididitagain on Nov 11, 2024 7:32:58 GMT
I have a cash ISA with Shawbrook, you can send them a photo of the ISA transfer form. Who then send it onto AC. Just white out the date and re submit every time you wanna do a transfer. Then you can electronically transfer the ISA to Trading212 currently 5.10% FSCS protected apparently . takes about2-3 working days all done online,. That is what I used to be able to do. In August I sent the usual form and they put a note in the secure messages saying that they had "bben processing them in error" and wouldn't do any more. It seems they changed their T&Cs in about March time (which I didn't notice). I initially got quoted a load of T&C stuff and decided to escalate the matter as the dialogue just seemed to me that they didn't understand. It got escalated to their complaints resolution team and the agent there explained the position. They refused to make an exception or process the amount that had, by then, been sitting in AC for nearly 3 months. Keep an eye out as they may "spot the error" with you as well - and you may need to follow the suggestions in this thread. I received a similar E mail over the weekend from Shawbrook. seems a bit crazy they dont let you transfer money in after 14 days to a variable rate product. Ive transferred to Paragon.. they tell me they will accept ISA transfer from AC and you can do them as many times as you want. .. lets see what happens
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