I requested to transfer my Building Society cash ISA to Invest Engine on the 14th April. The initial stages were actioned by both Invest Engine and the Building Society very efficiently in only 3 days. But since the money entered Invest Engine (4 weeks ago today) nothing further happened and my money appears to be in some kind of limbo.
Is 4 weeks normal for the internal processing of a simple cash ISA?
i have transfered cash isa’s into invest engine in the past 2 years and all went great.
approx 2 weeks from start to end.
recently i have trasfered a cash isa from T212 into lightyear and this took 1 week.
Thanks for that comment. Given that the ISA transfer request was initiated on 14th April, it means 30 calendar days have elapsed. This now puts investengine in breach of guidelines set out in the GOV.UK website.
One expects interest is made on monies held hence the 3 /4 week tile lapse.
Seeing issues with complaints about money transfer times and money accounting issues with user accounts made be think twice about investing with IE. I have T212 already and the transfer rate is very quick approx. 3 days for cash isa , this year I went with Freetrade for other transfers and again the process was quick aprrox. 3- 4days . THe last transfer was over the last BH weekend and excluding the weekend period 4 days and the funds were in my account.
Both T212 and Freetrade have a very good selection of ETF’s and ETN’s so one should be able to find ones to suit with instant trades rather then one placement per day.
The choice of providers are a plenty , it boils down to what one wants. I prefer a mix of all ETF’s, ETN’s and indivdual growth and high rate divi stocks so get all of that from T212 and Freetrade.
It is not 3/4 weeks. It is now 5 weeks and still nothing happening.