Sally says:

Transferring an Isa from one provider to another is supposed to be straightforward. In your case, you had already sold the investments held in your Interactive Investor equity Isa and wanted to switch proceeds to a Nationwide cash Isa. Simple, or so you would have thought. When you said the balance involved was £188,000, I was particularly concerned by these delays and your position as piggy in the middle.

I went to both companies to find out why your cash was trapped. It took some time to discover the nub of the problem. But finally it emerged that you had been given the wrong forms to complete at the outset when you visited Nationwide. 

Rather than filling in one to switch a stocks and shares plan to a cash Isa, you unwittingly completed the paperwork for moving from one cash Isa to another.

This sent your application down the wrong road completely as cash to cash Isa transfers are completed electronically whereas stocks and shares Isas (even those containing cash proceeds) require more manual involvement.

As Nationwide believed the transfer had followed the electronic process, it did not initially send a paper-based request to II.

When the funds did not arrive, Nationwide chased the broker by email. It maintained that had II responded, the issue could have been resolved sooner. II disputed this and said it had replied in a timely fashion.

After my intervention, the correct forms were organised and your £188,000 finally (after a money laundering check delay) arrived safely in your new Isa. Nationwide added the missed interest and offered you £100 compensation, which you declined. II refunded its £40 charges for the period.

You thanked me profusely and said you were glad the nightmare was over. You were just glad the funds had finally arrived in your new account.