Revised version of the cross-industry Cash ISA to Cash ISA Transfer Guidelines
The BBA has today (28 July 2011) published a revised version of the cross-industry Cash ISA to Cash ISA Transfer Guidelines which build on best practice Guidelines introduced by the industry in 2008.
The revised Guidelines implement the following key changes which come into effect on 28 July 2011:
- pending arrangements for structured cash ISA products, where the product terms and conditions restrict access and do not permit the transfer to another provider prior to/until a future date
- a revised Model Transfer Authority Form, designed to reduce completion errors; drive cross-industry consistency and support improved customer understanding. The form has been subjected to a 'plain English' review.
- potential remedies for the ceding provider where the new provider is unable to accept a transfer beyond a certain deadline.
The revised industry guidlines are available via the link below.
A consumer friendly guide on the Cash ISA transfer process is available at: http://www.bba.org.uk/consumer-guide-to-cash-isa-transfers
Notes to Editors
These guidelines were updated in December 2012.
For further information, please contact:
Press office (020 7216 8989)
Press Office (Out of hours contact) (020 7216 8888)