It’s been more than 2 weeks since my new provider requested a transfer out, yet Freetrade has not processed the transfer. What’s the holdup?
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I’m currently sitting at 5 weeks waiting for a stock transfer out 
Hi @Shilpa -
Can you let me know the provider you’re transferring to? I just had the team check against the email you use here and they don’t have a transfer out request in your name.
If you want to share more details you can DM me here.
UPDATE: The transfers team had a request come in from T212 today for your ISA. They’ve been sharing these requests with a lag at the moment as they’re taking longer on their side to process transfers. We’ll get to yours as soon as we can.
Best,
Alex
I’m not sure I understand what you mean. Who has a lag? Trading212 made the transfer request on the day I requested it.
For your information, the original request was made on July 10th, and as far as I understand, there is an HMRC rule stipulating the transfer shouldn’t take more than 15 days.
I’m so sorry. I don’t understand why there is such a lag on both transfer ins and outs. This process has existed for at least a year, so I don’t know why it has yet to be optimised.
We have just received the transfer request from trading 212 in the last 24 hours. I’m not sure why there was a delay on their side.
We will get this processed as quickly as we can to get you on your way.
As for the timeline - the HMRC guideline is 15 working days for transfers between Cash ISAs. If this is a transfer from us this will be from a stocks and shares ISA and the guideline is for completion within 30 days.
Hi @lukethefool just looking into yours
We’ve sent the valuation and details over to T212 in advance of the transfer. We’re working with T212 to do these in bulk at the moment given they released a large number in one go.
We should be moving your shares across in the next week or two depending on which batch goes in.
If you want more details you can reach out to transfers@freetrade.io
Well well well its 212 holding things up but blaming the other party, there’s a surprise.
Quick note to say, you are not the only ones stuck waiting for ISA transfers.
I initiated a transfer of cash (no stocks or shares) out of my Freetrade ISA on the 8th of July and still waiting. My new provider confirmed the request had been sent to FT on the 15th and they message me every week to say they are still waiting.
I’m not transferring to 212 and have the same issues - definitely on the FT side.
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Thanks for bringing this to our attention. From our records we received a transfer request from your new provider on the 15th, but the files they provided were password protected and the passwords that were set didn’t work. We got the correct passwords and accessed the files on 25/07. That makes the transfer 21 days old (the time frame for transfers out of stocks and shares ISAs, even if cash, is 30 days).
We’re going to be processing this transfer to your new provider tomorrow.
Let us know if that doesn’t get completed and I’ll be sure to chase it.
Thanks!
Alex
Thank-you for the response. It’s great to hear back and that the transfer will be done tomorrow.
With due respect, the timeframe shouldn’t reset because you’ve needed to go back and forth with the other provider - that’s what the 30 days is for. I’ve contacted my new provider and they said they have chased FT multiple times and there is no history in the notes of issues with the files. That doesn’t necessarily mean that there weren’t issues but it took about a minute to get through to the correct team on the phone so I struggle to see how that took 10 days to resolve and how it takes another 20 odd days after that to proceed further.
The transfer is now at 36 calendar days. I know that it’s still a Stocks and Shares ISA transfer even though it’s only a partial cash transfer, therefore 30 calendar days - my point was that it surely it shouldn’t be that complicated since there are no stocks to transfer/sell.
I wouldn’t mind so much but I’ve requested updates from support and only received generic responses. It took posting in a public forum to get a personalised reply.
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Thanks @gdman
I’ve shared your feedback with the team. We’ve automated a number of our processes for transfers and we’re actively looking at further ways to improve the experience. These pain points like you’ve experienced here often crop up and we can do more on our side to sign post what may be happening behind the scenes.
Best,
Alex
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Can you add in feedback that it’s very frustrating to be charged monthly fees twice since initiating my transfer request c. 50 days ago