Transferring isa, how safe is it?

  rickf 12:35 16 Jan 2019

Wondering if some had transferred their isa? If so was the process a smooth experience. Worried about big chunk of money gone missing. Do tell.

  rickf 14:26 16 Jan 2019

oops, I meant for this to be in Speakers' Corner.

  davecartman 15:14 16 Jan 2019

Have transferred isa's a number of times. Used to be fraught with difficulties but since the financial authorities told the various institutions to get their act together some years ago it now seems to go very smoothly. Make sure of course that you are transferring to an institution that is covered by the FSA compensation guarantee.

  rickf 15:58 16 Jan 2019

Thanks for writing your experience of this.

  Forum Editor 18:32 16 Jan 2019

Thread moved to Speakers Corner from Tech Helproom.

  Pine Man 18:48 16 Jan 2019

Moved dozens without any issues whatsoever. The last one took less than a week to complete.

  oresome 20:14 16 Jan 2019

I assume the questioner and all who have replied are referring to cash ISAs.

I have never done it, but moving a stocks and shares ISA in specie will I think be a more complex and lengthy process.

  rickf 20:19 16 Jan 2019

Thank you all. Allays my anxieties.

  KEITH 1955 20:09 17 Jan 2019

moved all my accounts and isas from bank a to bank be with no problem all I did was tell my new bank my direct debits , all my accounts ( they close accounts at your current bank ) and they transferred all my isas . NOTE you may be told now that you can only have one isa so if you got more than one you will have to put it all into one.

Don't panic about old and new bank doing double direct debits " the system " takes control of everything so this cant happen.

  KEITH 1955 20:10 17 Jan 2019

forgot to say if I had known how easy it was I would have done it years ago.

  rickf 09:51 18 Jan 2019

Thank you for all the feedbacks. Very reassuring.

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