When you submit an electronic ISA transfer form will InvestEngine send an email confirmation?
I submitted an ISA transfer form a few weeks ago to transfer this years ISA into InvestEngine from Trading 212. I haven’t had any correspondence from either.
My wife successfully transferred her ISA into InvestEngine from Vanguard last week
Vanguard did confirm in the first few days that they had a request from InvestEngine to transfer the ISA from Vanguard.
The process has changed recently when we implemented in-specie transfers on our platform
Your completed transfer form is automatically sent through to the InvestEngine team once completed via the ISA transfer link
The InvestEngine team will review your form to ensure we have all the required details.
We’ll be in touch if we need anything further from you.
Once reviewed, we’ll contact your existing provider to instruct a transfer.
Your current provider will send us the valuation of your ISA, so that we could see which part of your ISA can be transferred in-specie and what funds will need to be sold.
If necessary, your current provider will sell your existing investments (partially or in full) and transfer the cash to your InvestEngine portfolio so it can be reinvested.
Your holdings that are transferred in-specie will be transferred into your empty DIY ISA portfolio.
We will contact you via email once we’ve received the cash and/or ETF part of your transfer.
With in-specie transfers we aim to complete the process within 15 days, however, please note, this may take up to 30 days as per HMRC rules.
Does your platform believe in the idea of keeping the customer informed throughout the journey?
I submitted the online form and a signed wet form via email this morning. I have not at any point received confirmation of receipt or means to track the request.
In fact after I signed the form I could not figure out email to send to but found the address on this forum isatransfers@investengine.com
Hi, we do absolutely notify all clients after we receive the forms by e-mail. The correct e-mail (support@investengine.com) should be mentioned on the page you’re taken to after filling in the form. We’re very sorry for not getting back to you sooner on this.
We’ve taken a look and could not find any forms from clients sent to isatransfers@investengine.com on 24th July, unfortunately.
Could you please resubmit your form to support@investengine.com and we’ll process this as a matter of urgency.
You replied the to me at 10:46 today saying you had raised the transfer request already to Virgin Money. So presumably you MUST have the pdf form I sent? I had the sent the form to support@investengine.com last Wed at 12:49pm (5 days ago)
Do you need me to resend to you here?
BR
Hiro
Elina (InvestEngine)
29 Jul 2024, 10:46 BST
Hi Hiro,
Thank you for your message.
I can confirm that we’ve already processed and sent your transfer request to Virgin Money.
The upper threshold for completing Stocks and Shares ISA transfers is 30 days as stipulated by HMRC; however, our goal is to finalize transfers as quickly as possible. If we do not receive an update from your counterparty within two weeks from the transfer placement date (August 7th), we will contact your provider. You can also anticipate an update by then, or if your provider requires any additional information in the meantime. We will inform you once we have received and allocated your transfer otherwise.
If you have any questions, please feel free to let me know.
Hi Hiro!
Could you please contact our support team via email at support@investengine.com so they can check your account and confirm the status of your transfer request?
