So I was going to stick my cash into Chase but saw the Shawbrook 4.35% account. I’m not familiar with their history so not 100% confident in trusting them with a fair chunk of cash. What are peoples’ experiences?
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Ouch. That’d hurt.
Came onto the scene with (a bit of) a fanfare and featured high in rate tables…… then went quiet.
Professional outfit - slightly old-school transaction speed-wise, but solid.
I’m going to ask whether that is definitely the case
What are you unsure about?
If it’s the cheque thing, it’s an absolute no-no. With a transfer, you NEVER touch the money - it’s transferred directly from old to new ISA account.
You withdrawing it renders the withdrawn sum no longer tax-exempt.
If Triodos are advocating the transfer of funds by ordinary bank transfer ie., by you, they need to think again. 
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Not quite - on the YBS website when I selected Triodos for the ISA transfer it removed the ability to enter bank details and showed a pre populated form to download sign and send off. Prior to that it mentioned that the ISA transfer may involve a cheque between the financial institutions. Unfortunately I can no longer access the wording as now the account is open it can’t be clicked onto until midnight.
It could revolve back to this “BACS ISA Transfer Scheme” which Cynergy didn’t have Triodos listed down on.
I see. I must say their wording doesn’t assist clarity. So long as you’re following an ISA transfer process you’ll be ok, but filling out paper forms is a tad old-hat. Still, if that’s the cost of dealing with a bank which matches your values, so be it.
With YBS? I have to say I agree - they make you sign t&c that states you have not subscribed to another cash ISA this year - but in other text they say you can transfer a cash ISA paid into this year but it must be the whole amount as you/they confirmed on here/on email. I suppose it is to deter people putting funds in manually if the former was the case, but it creates confusion imo.
As for Triodos they told me online they accept electronic transfer requests, but nowhere seems to allow you to submit it to them that way. Filling in this paperwork is a nuisance even if it is half populated.
I will need to re-read the cheque wording tomorrow, I guess really it makes no difference how the banks remit the funds as it’s on them and they still have a timeframe to adhere to, but it just rang alarm bells!
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You’re right to be wary, although in practice, as you say, how the money gets to B is of no relevance to you.
I’ve had ISAs with YBS and it was blissfully simple and as it happens, the fastest transfer I’ve had - their T&Cs are standard. I’ve no experience with Triodos, however.
Good luck ( you’ve done your worrying 
).
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This is the same issue I am having while transferring ISA from Lloyds to vanguard. Vanguard said it can’t be completed electronically so downloaded a form that I had to post to Vanguard. 2 months dow the road, no update, transfer not yet completed. It took 3 months for a JISA to be transferred from Lloyds to Vanguard still through similar steps.
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Is that an Investment ISA that is moving?
Thanks Graham. I suppose another perk of moving to YBS is I should be able to transfer away electronically in future?
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Sure. As I said earlier, it’s very easy to move easy-access cash ISAs around between providers. If you’ve a healthy looking balance, that can make a serious difference. Even if the sum is modest, and you’ve the energy (
), moving it stay up with the leading rates costs nothing and benefits you financially.
Do it once, and you’ll see how easy it is.
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One would hope so, going to Vanguard, though if it is Cash ISA to S&S ISA, that could account for some of the delay.
I tend to keep mine separate.
Only time I have had an issue transferring ISA was this April. Tried from Virgin Money to Yorkshire Building Society and YBS contacted me to say that VM had declined the transfer and to contact them.
I just transferred it from VM to Santander fixed at 4.25% instead, which was a good rate at the time, and now that sum would have been earning 4.50% had I persisted and transferred it to YBS (the rate for >£20k)
I am Graham! I think what I meant was, I hope by moving to YBS I won’t have to do a paper form again (a perk of moving away from Triodos who seem to only accept paper instructions)!
For now, I’m waiting to get access to a printer/envelope 
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Did they give a reason? Seems odd they’d reject one and accept the next
I never followed it up as Santander was better rate for excess ISA funds
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No paperwork in sight when I did it a couple of months ago.
Agreed 
All are cash ISAs
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