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You Are Here: Home > Personal Finance > ISAs > FAQs - Question
How to complain about a delay to an ISA transfer
Switching an ISA from one provider should on paper be relatively easy. Sadly however this is not the case as the transfers are usually done by hand and not electronically.

According to HM Revenue & Customs (HMRC) the transfers should be carried out in a 'reasonable timescale' which it indicates as 30 days.

ISA transfer problems - How to complain
However, this is only recommended as best practice and is not enforceable.

Most banks and building societies do aim to keep within the 30 day limit but often struggle to cope with the paperwork at both the start and the end of the ISA season (March - May). As most of the process is done by hand a wrongly spelt name or a mistyped postcode means the paperwork has to be returned to the original provider and the entire process begun again.

However it is possible to make a complaint which occasionally is successful.

How To Complain

If your ISA transfer takes more than 30 days then write a complaint first to the bank in question (Head Office unless you know the exact department). I would also advise that you seek compensation for any interest that hasn't been credited to your account.

If that doesn't succeed then make a formal complaint to the Financial Ombudsman Service (see link below). They will investigate your case and often seek compensation as well, the average being £50 - £100.

If you do complain to the FOS then the more supporting paperwork you have the better. The complaints procedure is relatively simple and all the information is on their website.

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