I wanted to share my experience of transferring an ISA out of Trading 212 to see if anyone else has had similar issues.
My first attempt was to transfer my ISA to Santander. Over a period of around four weeks, Trading 212 repeatedly claimed they had never received a transfer request from Santander. Santander maintained that the request had been sent. Nothing progressed, and eventually I gave up on the transfer altogether.
I then attempted the transfer to Lloyds instead. This time Trading 212 did respond, and the funds themselves were transferred very quickly. However, Lloyds has told me that Trading 212 has never provided the ISA transfer information that confirms the current year’s ISA subscriptions/allowance usage. As a result, the ISA information recorded by Lloyds is incorrect.
Since then, I have repeatedly asked Trading 212 via both chat and email to:
- Provide a copy of whatever transfer information they sent to Lloyds.
- Copy me into any communication sent to Lloyds.
- Confirm the email address or contact details they used to send the information.
Every one of these requests has been ignored other than me getting a response saying they have sent/resent it.
I subsequently submitted a Subject Access Request (SAR) to see if I could see this for myself since support were not helping, but the information I received back was extremely limited and, in my view, does not represent a complete response to the request, and only really contained my chat messages and nothing else.
I have now raised a formal complaint with Trading 212. Depending on the outcome, I intend to escalate the matter further. At this stage I am extremely disappointed with the lack of transparency and communication throughout the process.
Has anyone else experienced similar issues when transferring an ISA away from Trading 212, particularly around transfer paperwork and ISA subscription records?