Over the years, I have completed a number of ISA transfers from various different companies either CASH or S&S.
in recent times, I have tried to transfer in to 212 but it seems that in most cases companies only transfer via cheque.
Why wont 212 accept cheques? what is the risk?
We are not planning to start accepting cheques. There are regulatory requirements that dictate the allowed delays between receipt and banking of a cheque. Due to the ongoing situation, we cannot guarantee the timely processing of such transfer, thus we rely on bank transfers for the time being.
Sure, I get it. What I dont follow is why every other provider is cool with cheques still.
I am genuinely curious, why this stance with 212? Also, lockdown is easing in the world, what are the timelines to accepting cheques?
At the end of the day, this is stopping 212 receiving more money.
Thanks
We will not be processing cheque payments in the near future, but we will keep you posted should anything changes.