Banks could 移転 Isas in two days

By Dan Hyde
Updated: 19:17 BST, 22 February 2011

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Banks are neglecting the needs of Isa savers by 拒絶するing 科学（工学）技術 that could 削減（する） Isa 移転 times to just 48 hours, This is Money has learned.

持つ／拘留するing on: Banks are 気が進まない to 投資する in 科学（工学）技術 that could 削減（する） Isa 移転 times to 48 hours

New 支配するs for 2011 軍隊 banks to 完全にする Isa 移転s within 15 working days ? a 重要な 削減 from the 26-day 普通の／平均（する） for the 産業.

But 産業 insiders say banks could 削除する this to nearer two days if they 手配中の，お尋ね者.

によれば 消費者 焦点（を合わせる）, the （選挙などの）運動をする 団体／死体, the 延期する スキャンダル costs savers £3bn in lost 利益／興味 every year. This money just lines Isa providers' pockets.

James Clark, a former bank director now at 全世界の IT 会社／堅い Pegasystems, says banks are more 関心d about their '底（に届く） line' than helping Isa 顧客s.

'Banks have the 科学（工学）技術 ? their 顧客s use it for 'faster 支払い（額）s' which happen the same day.

'But they don't use it when transferring accounts between themselves, they still use an archaic paper-based system and the 王室の Mail.

'Technologically speaking, there is no 推論する／理由 why Isa 移転s can't be done within 48 hours.'

だいたい 1.5m savvy savers switch their cash Isa to get a better-率 every year. 伝統的に, activity reaches fever point as the 税金-year 近づくs its end each April.

But Britain's shambolic system has been a constant thorn in their 味方する. Serious 延期するs have become commonplace, with savers' cash stuck in limbo for months on end, costing £3bn in 利益／興味 によれば 消費者 焦点（を合わせる）.

容認できない: Isa 移転 延期するs cost savers billions

Thanks to an Office of Fair 貿易（する） 判決，裁定 last year, Isa 移転s now have to be 完全にするd within 15 working days.

It could help savers earn up to £14.5bn in extra 利益／興味 as a result.

But sceptics 疑問 years of 大混乱 will suddenly come to an end. For a start, the difference between 30 'calendar' days (the previous 限界) and 15 'working' days (the new 限界) is 現実に just nine days.

And その上に, 25% of 移転s 越えるd the old 30-day 限界 last year anyway, によれば an 調査 by the Office of Fair 貿易（する）.

One 特に horrific tale was that of 全国的な 顧客 Alastair Taylor, a 半分-retired solicitor from Longforgan. He waited 101 days for his cash Isa to be transferred. And that was only to another 全国的な account.

Another This is Money reader, Ed, from Southampton, had to wait eight months to 移転 from Barclays to 全国的な. Thankfully, Barclays agreed to 支払う／賃金 his 6.15% 利益／興味 率 for the period of 延期する.

David 井戸／弁護士席s, from Lincolnshire, says he waited nine months for Lloyds TSB to make a 移転. He said: 'Lloyds lost three cheques, returned two 説 that the accounts didn't 存在する, gave me phone numbers where people 存在するd on Monday but had disappeared by Wednesday, gave me another telephone number to 接触する which turned out to be the 地元の hospital きれいにする department,' he says.

消費者 焦点（を合わせる） 長，指導者 (n)役員／(a)執行力のある マイク O'Connor says: 'We live in the age of keyboards, not quills. Isa 移転s should take days not weeks, certainly not over a month.'

A 15-day period should be the '（判断の）基準 for banks to 改善する upon - the 明らかにする 最小限 and not a 的,' he says.

Who is 改善するing Isa 移転s?

全国的な is one of two major Isa providers to 率直に commit itself to 改善するing 移転s in 2011. April 2010 is now seen as an かつてない 'low point' for the 産業 ? the only way is up.

In Septe mber, Halifax 概算の that Isa 移転 延期するs cost saves £24m if they're left stuck on the 普通の／平均（する） sub-1% 利益／興味 率.

As a result, Halifax and Bank of Scotland 約束d to 支払う／賃金 利益／興味 from the day they 'receive' a 移転 使用／適用 form, not when the money is sent to them by another provider. On 4 January, 全国的な committed itself to the same 誓約（する）.

Halifax director of 貯金, Russell Galley, says making Isa 移転s smoother is '決定的な' for the 産業.

He says: 'When a 顧客 chooses to move their money from one cash Isa provider to another they cannot do so themselves without losing the 税金 advantage.

'We have always said this needs to be an 産業 wide 率先. We were one of the first providers to 可決する・採択する the electronic cash Isa 支払い（額） 過程. The 大多数 of providers are yet to 可決する・採択する this more efficient 過程, when they do even more 顧客s will 得る the 利益s.'

But Pegasystems' James Clark is doubtful that banks have the appetite to 支払う／賃金 for new 科学（工学）技術 that would relegate Isa 延期するs to mere 残余s of a painful past.

'減ずるing Isa 移転 times by ten days or so doesn't 現実に have a 抱擁する 衝撃 on banks' 底（に届く） line, that's the 問題／発行する,' he says.

'Banks have far more 需要・要求する for 改善するing their 移転 systems than 予算 to do it. It's not peer 圧力 that is going to make this happen, either. It's going to take new entrants who don't have 'bank' in their 指名する ? 動きやすい providers like Vodafone or Google, for example - 申し込む／申し出ing better service.'

This is Money and sister 肩書を与える Money Mail have a long-running （選挙などの）運動をする to 軍隊 banks to 改善する their Isa 移転 systems. You can read about the （選挙などの）運動をする here.