ISA transfer -4weeks?

tali1 | 20:36 Mon 24th Jan 2011 | Personal Finance

4 Answers

I have a stocks/shares ISA and i want to transfer to another one - i have been told this will take 4 weeks - does it really take that long?
H and L hold both the accounts in question for me btw

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dzug2

Not necessarily but it can - it's not the holder that matters but the provider.

dasherman

Are you saying you hold 2 s&s ISA's with H&L? If so, surely all it would take is a phonecall and a few days at the most.

dzug2

It's the ISA provider doing the outward transfer that is the delay. H&L have no control over how long they take to do their bit. 4 weeks is the maximum allowed by law - and H&L are either saying the maximum by default - or brcause they know that that partticular provider is one of the slow ones. Possibly the latter - I've just done something similar and H&L said a few days and it took a few days.

tali1

Question Author

Problem was that in first call H and L assumed isa was external -when it was registered with them .Another Phone call sorted it out no probs
:)

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