ISA transfers

[bond]

Im sorry if this has been asked before, but does anyone know if the time it takes for ISA transfers is being investigated by any financial authority? I want to transfer an ISA balance from one bank to another, but I'm told it could take upto 30 days, and if I need to withdraw any funds within that time then I should not do so, as it will cause major problems. What amount of paperwork/administration causes two money making banks to take 30 days to transfer my money? It's ridiculous. Thank you.

[dzug]

The time (30 days max) is SET by the financial authorities so I doubt they are investigating it.

[dasherman]

I transferred a cash ISA from one building society to another a couple of years ago and it took about 35 days. I also transfered a cash ISA into a stocks and shares ISA and it only took about a week.

In these days of electronic banking,BACS,etc it should take 3 working days maximum.