Reply With QuoteCrooks in suits
I have a sizeable sum in an ISA. It was earning 4%, but on 19th October started a transfer on maturity (27th Oct) to another bank paying 5.6%.
On 27th Oct transfer the funds to a 0.1% matured funds account and now 3rd Nov still not transferred, saying it could be 8th Nov. So, I lose 12 days interest, or the transferring bank gains that interest. At 5%+ it is no small sum. You can see there is little benefit in them speeding up the process.
I should have transferred it to an easy access ISA with the same back at 5% on maturity, and then undertaken the transfer. It will have then earned interest for the 12 days. You live and learn.
But, the bank is behaving like a right cute barstad.
Crooks in suits
Bankers bonuses to pay, money has to be made somewhere, shake their hands and then count your fingers.
Not sure which banks are involved here but by way of balance I recently transferred my ISA, I opened the new one with Skipton BS and requested the transfer on Saturday 28th. The money left my old ISA on the Monday (30th) and arrived in the new one on the 31st. I was expecting a slow prolonged transfer process so well done Skipton! Worth knowing for anyone else thinking of transferring their ISA.
I have never had an issue either.Originally Posted by mmgg1988
TBH though even if it was £100k, its only a couple of hundred lost in the short time.
Yeah it is the principle involved, but I'd just write it off & be happy I had the capital, unlike many.
I find it very easy with the Coventry,they are often the best rates as well.
When mine mature I transfer them with ease in very short time.
https://www.coventrybuildingsociety....cash-isas.html
Is this what is referred to as a first world problem?
Yep, but so what, and what has that got to do with anything?
It is about cheap underhand tactics to rinse a few quid and it absolutely boils my p1ss.
If it is your son's uni fund, then its £100 lost max, or barely a meal out.
Move on, life it too short to stress the little things.
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