Name mismatches can delay or even reject financial account transfers, such as Cash ISA and Lifetime ISA transfers, or updating your mortgage details. This article explains the necessary steps to address these mismatches and provide a smooth transfer process.
Why is name consistency important?
Financial institutions require that the name on your account matches the official records provided by your previous provider or respective authorities. Any discrepancy can halt the transfer process until the mismatch is resolved.
Common Scenarios:
Using a different name (e.g., maiden name vs. married name)
Omitting middle names on account information
Typographical errors in official records
To ensure a seamless transfer process, follow these guidelines:
Steps to resolve a name mismatch
1. Verify and confirm details
Confirm that the name registered to your current account matches the name held by your financial institution or provider.
If the name discrepancy is identified, check which details are incorrect. This could be your first name, middle name, or surname.
2. Updating your name on records
For financial products like ISAs:
Update your name with your previous provider (e.g., Trading 212, Virgin Money).
Alternatively, update your name on your Tembo account to match the details held by the previous provider.
For documents Like Mortgages:
Notify your adviser about the name error. They will resend corrected documents for review and approval.
3. Submitting identification or additional documents
Provide proof of name change, such as a marriage certificate, if transitioning from a maiden to a married name.
Certain transfers may require submitting identification details (e.g., passport, driving licence).
4. Resubmitting transfers
Once the necessary updates are made:
Inform your provider (e.g., Tembo) that the corrections are completed.
Request them to resend the transfer based on your updated information.
FAQs
What if my name is different on my legal documents due to marriage or divorce?
Submit a copy of your marriage or divorce certificate to the institution handling your account.
Can I re-request a transfer using a different name?
Yes, you can cancel your existing request and submit a new one with the updated name via the Tembo app.
What happens if the mismatch persists despite corrections?
If you’ve updated your details but the issue remains:
Confirm name consistency between both institutions.
Contact Tembo to escalate and resolve the matching issue.
What should I do if multiple accounts are involved?
Ensure all accounts share the same correct details. Updates may be required separately for each account.
Final checks
To minimize transfer delays:
Regularly verify and update your account details.
Keep official documents, like marriage certificates, accessible.
Work proactively with Tembo and your financial providers to resolve name-related disputes.