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ISA and problems closing/withdrawing
We are having issues with my son’s ISA in the UK. We moved to Canada when he was 13 and he had an existing child ISA. As we couldn’t close it we just left it and gave them our new address. Now he is 18 and wants his money. When he turned 18 they automatically turned it into a regular ISA and we were sent a form to complete and take into the Halifax to confirm identity before he could have access to the money. They would not accept it by mail so we called and got pushed around from pillar to post. No one had any idea what we should do. So my son and husband have now flown back with the form and ID to close it and withdraw the money. Trouble is, the Halifax want his NAtional Insurance Number and he doesn’t have one because he wasn’t in the country when they are issued at 16. They won’t let him have his money without it and it’s impossible to get one as we aren’t residents. They are only there for another week and we don’t want to have to come back without it. Anyone else been in this situation and found a way around it? |
Re: ISA and problems closing/withdrawing
You can apply directly for a NIN. Unfortunately, this may take several weeks for the number to be issued. see further details at https://www.gov.uk/government/organi...urance-numbers call the number on the following link, if your son is still under 20 years old https://www.gov.uk/government/organi...urance-numbers |
Re: ISA and problems closing/withdrawing
We’ve called the number and he would have to apply for one and to do that you need to be in the country to attend an interview. They fly home to Canada next week and the process won’t happen that quickly. So we have no way of him getting a NI Number. That’s why we are stuck. He didn’t have a national insurance number when he opened the ISA as he was so young so it seems ridiculous that he can’t wothdraw it. Looks like we’ll be losing over 3000 pound 😕 |
Re: ISA and problems closing/withdrawing
Does your son have a normal account with the Halifax? If he does, he may be able to transfer all but £5 from the ISA to it. Then he could withdraw the money or arrange a wire transfer to an account in Canada... just a thought. :)
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Re: ISA and problems closing/withdrawing
No he doesn’t. The annoying thing is we spoke to them on the phone before they left Canada to double check what would be necessary to close/withdraw it and they did not mention anything about national insurance numbers. They just said to bring the standard ID which he has. It’s so frustrating! I feel really bad for him and my parents who gave him the money in the first place. |
Re: ISA and problems closing/withdrawing
Originally Posted by Mel2
(Post 12517275)
No he doesn’t. The annoying thing is we spoke to them on the phone before they left Canada to double check what would be necessary to close/withdraw it and they did not mention anything about national insurance numbers. They just said to bring the standard ID which he has. It’s so frustrating! I feel really bad for him and my parents who gave him the money in the first place.
Originally Posted by Mel2
(Post 12517158)
We’ve called the number and he would have to apply for one and to do that you need to be in the country to attend an interview. They fly home to Canada next week and the process won’t happen that quickly. So we have no way of him getting a NI Number. That’s why we are stuck. He didn’t have a national insurance number when he opened the ISA as he was so young so it seems ridiculous that he can’t wothdraw it. Looks like we’ll be losing over 3000 pound í ½í¸• Does he actually have to be resident in the UK to get an NI # as he is a British Subject - or does he just need a UK address and to supply his British Passport number? I would double check that they don't think he wants to apply as a newcomer to the UK, rather than someone who is "temporarily living overseas". Could it be sent to his grandparents or other relative? If I were you, I would fill out all the relevent documents that the Halifax require (together with the wire transfer details and instruction) and sign them, make an appointment with the Halifax Customer Advisor, lodge the documents with them (asking for a receipt and keeping a copy) and inform them that you will advise them of the National Insurance number in due course. |
Re: ISA and problems closing/withdrawing
I would formally 'complain'. By that I mean either:
1. Write to the Halifax complaints department and make it very clear that you are complaining over unfair and unrealistic restriction of access to the ISA and ask them for their 'final decision' before you refer to the Financial Ombudsman (tell them that will be your next step). Obviously outline all of the nonsense you have gone through to date - insist that they give you their final decision with reasons in writing. Then if they still insist on their stance, write to the FOS including their final response letter. 2. You could take a chance and refer the case immediately as a complaint to the FOS, but they may ask you to get a 'final written decision' from the Halifax first. It is amazing how a threat to refer to the FOS will sharpen their minds! See here: how to complain |
Re: ISA and problems closing/withdrawing
Originally Posted by Siouxie
(Post 12517419)
Does he actually have to be resident in the UK to get an NI # as he is a British Subject - or does he just need a UK address and to supply his British Passport number? I would double check that they don't think he wants to apply as a newcomer to the UK, rather than someone who is "temporarily living overseas". Could it be sent to his grandparents or other relative?
If I were you, I would fill out all the relevent documents that the Halifax require (together with the wire transfer details and instruction) and sign them, make an appointment with the Halifax Customer Advisor, lodge the documents with them (asking for a receipt and keeping a copy) and inform them that you will advise them of the National Insurance number in due course. I doubt very much if we will be going back to the UK for at least a couple of years. We’ve already wasted $2000 on the flipping flights this time. |
Re: ISA and problems closing/withdrawing
Originally Posted by Mel2
(Post 12517459)
They also say they are unable to wire the money abroad which in this day and age is ridiculous! My son has to physically be there at the counter to receive it. I doubt very much if we will be going back to the UK for at least a couple of years. We’ve already wasted $2000 on the flipping flights this time. Then it's a simple wire transfer to Canada.. but B) they also do wire transfers - but perhaps not from an ISA. What kind of ISA is it (Easy Cash?) Sorry, just trying to think of ways around it.. perhaps some kind soul here who works in banking can give you more helpful advice! :) |
Re: ISA and problems closing/withdrawing
Originally Posted by Hurlabrick
(Post 12517446)
I would formally 'complain'. By that I mean either:
1. Write to the Halifax complaints department and make it very clear that you are complaining over unfair and unrealistic restriction of access to the ISA and ask them for their 'final decision' before you refer to the Financial Ombudsman (tell them that will be your next step). Obviously outline all of the nonsense you have gone through to date - insist that they give you their final decision with reasons in writing. Then if they still insist on their stance, write to the FOS including their final response letter. 2. You could take a chance and refer the case immediately as a complaint to the FOS, but they may ask you to get a 'final written decision' from the Halifax first. It is amazing how a threat to refer to the FOS will sharpen their minds! See here: how to complain |
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