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Transferring ISA to new provider

Last post Wed, Feb 25 2009, 9:15 PM by HMR. 10 replies.
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  •  Wed, Feb 25 2009, 9:15 PM

    Re: Transferring ISA to new provider

    Yes, it is Natwest that is doing the transfer.
    • Post Points: 5
  •  Wed, Feb 25 2009, 3:54 PM

    Re: Transferring ISA to new provider

    Aren't transfers done by the receiving bank?? If you try to do it yourself you could easily lose the continuity and the Tax Free status of your savings.........
    • Post Points: 20
  •  Wed, Feb 25 2009, 10:53 AM

    Re: Transferring ISA to new provider

    Hi again

    The answer is yes and no! I rang Swindon and they gave me a generic account number and advised me to use my personal account number as a 'reference'. There was no box for a reference so I wrote it underneath - checked with NATWEST first that would be okay. I am transferring because NW rate is only 1% and Natwest offering 3.5% at moment - got this information from Martin's website. Thanks for your help anyway.

    ps had to open a new e-ISA with Natwest before I could do the transfer.

    • Post Points: 20
  •  Mon, Feb 23 2009, 1:39 AM

    Re: Transferring ISA to new provider

    HMR,

    Please let me know if my answer helped you transfer your ISA but I did wonder why you are transferring to NatWest, was it just to do with rates?

    I agree the Banking system is in a mess and they seem to be dragging their heels in carrying out requests to move money out. I had to wait almost 2 weeks to have money transferred from A & L on the Isle of Man a few months ago.

    ATM

    • Post Points: 20
  •  Sun, Feb 22 2009, 10:15 PM

    Re: Transferring ISA to new provider

    Thanks - I asked about this and it 'isn't possible'! However ATM has suggested a possible solution so going to try that. Cheers.
    • Post Points: 5
  •  Sun, Feb 22 2009, 10:12 PM

    Re: Transferring ISA to new provider

    I have contacted Natwest - they said they couldn't help but would put it on the agenda for Monday's meeting! No wonder the banking sytem is in such a state! Thanks though.
    • Post Points: 20
  •  Sun, Feb 22 2009, 10:10 PM

    Re: Transferring ISA to new provider

    Thanks very much! I was told by Nationwide this wasn't possible but haven't spoken to Swindon so will try tomorrow again and hopefully resolve the issue. Cheers.
    • Post Points: 5
  •  Sun, Feb 22 2009, 12:45 AM

    Re: Transferring ISA to new provider

    Nationwide accounts use that 9 digit system for their own systems but when dealing intransfers to or from another bank you just leave off the first digit and the remaining 8 become the account number used for the transfer.

    I have used this myself many times and was advised of this by Nationwide staff in Customer Services at Swindon.

    • Post Points: 20
  •  Sat, Feb 21 2009, 7:17 PM

    Re: Transferring ISA to new provider

    have you contacted natwest?. they should be able to sort it out, after all they want your money.
    • Post Points: 20
  •  Sat, Feb 21 2009, 7:16 PM

    Re: Transferring ISA to new provider

    It may not help but I know that Nationwide do have a different format for their current account numbers. If you ask them for the eight digit equivalent (plus sort code), you get an account number that will fit in with everyone else's systems. It might be the same with ISAs.
    • Post Points: 35
  •  Fri, Feb 20 2009, 5:17 PM

    Transferring ISA to new provider

    I have tried to transfer my Cash ISA from Nationwide to NATWEST but the Nationwide account has a 9 digit account number - too long to fit into the online application form. Have been on to both providers, neither can help! If I close the original account I will not be able to put the funds into a new account - limit being £3600 and have already used allowance for this financial year. Any ideas? Can't believe this trivial problem can stop a transfer! Thanks.
    • Post Points: 35