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Barclays transfer - Residual Dividends... how long?

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Barclays transfer - Residual Dividends... how long?


Postby onthemove » April 15th, 2018, 12:28 pm

I initiated an ISA transfer from Barclays to Hargreaves Lansdown back in October.

The first phase went OK-ish ... my shares made it across, all present and correct after about a month or so. Not lightening fast, but they made it.

A short while later, a cash balance appeared. I cannot actually work out exactly what was or wasn't included in that cash balance. No combination of the previous cash balance + expected dividends around that time seem to add up to the amount that has appeared.

But there were still other dividends which had gone 'ex', but hadn't reached pay date. So I figure(d) there should be more to come, so I'd wait and see.

Even though I didn't know the details of what had / hadn't been included in the first, at least based on my separately maintained records and the coincidence of dividend dates, I could see for definite that the last dividend payment date for any payment during the transfer should have been Vodafone, on 2nd February.

So that date has come and gone ... and I've been waiting, and waiting ... and waiting....

And I'm still waiting well over 2 months later.

This is now way longer than any of the other phases of the transfer. The cash balance in my HL account is roughly £500 less than my records suggest it should be .... though I can't work out any combination of the expected dividends that would achieve the exact difference.

Which in itself has me worried.

The issue is made difficult by the fact that I only every logged onto Smart Investor once, took a screenshot of the balance as evidence, then initiated the transfer through HL ... so I haven't logged on since. And moreover, I have tried just recently to see if I could logon again to see any record of the missing dividends, but the original logon method I use (and hence details) doesn't seem to work. The whole logon process seems different.

So was wondering what other people's experiences were at this stage, to give me some idea to how worried I should be, and how soon / how much to start complaining, and whether I should now consider trying to get in touch directly with barclays again (though how I'll do that without working logon details, I'm not sure)...

So few questions if I may ...

.. what kind of wait have others had for their residual dividends to arrive?

.. has anyone else had any issues with the residual dividends (amount) not getting transferred correctly at the end of it all?

.. for those who went from barclays stock brokers to smart investor, and who were paying their fees outside of their ISA ... did this arrangement continue across to smart investor? (Just wondering if Barclays have switched to taking the fees out of the ISA, and that might account for the discrepency - though if they have, I will definitely be complaining)


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Re: Barclays transfer - Residual Dividends... how long?


Postby PeterGray » April 15th, 2018, 2:32 pm

Barclays have only just started taking fees for Smart Investor accounts, so I doubt the discrepancy is there.

Are you sure VOD had gone ex before the transfer - if you initiated the transfer in Oct and the shares transferred in about a month that could have been before the ex date.

Have you rung them? I'd think that would be the first thing to do if you are concerned. The last time I closed an account with them - some years ago, I did get a cash statement showing what had been charged, refunded etc once they had officially closed the account. If you haven't yet had one it's likely they don't yet regard the account as fully closed.


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Re: Barclays transfer - Residual Dividends... how long?


Postby Alaric » April 15th, 2018, 8:23 pm

PeterGray wrote: If you haven't yet had one it's likely they don't yet regard the account as fully closed.

Did Barclays used to provide an end of year statement showing the ins and outs and account values? If so they would have to keep it open for long enough to provide this. If it was a taxed account, they would have to provide you with a dividend statement to enable you to do self assessment.

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Re: Barclays transfer - Residual Dividends... how long?


Postby SMarkus » April 16th, 2018, 8:56 am

When I transferred to HL from Barclays, I experienced the same situation. Barclays will wait until all dividends due have been received, so this will cover all shares thatr went ex-dividend whilst still held with Barclays. At the end of the transfer Barclays should then send you a closing statement.

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