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Transfer shares between accounts


Evg490

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  • 2 weeks later...

You can transfer between accounts the cash only. So you have to sell and rebuy.  The process takes a few days to clear the funds as apose to instantly within the same account.  Each account has seperate annual fees. Any transfer in or out of an ISA account will affect that years ISA allowance so be careful.

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On 30/12/2020 at 14:20, mags265 said:

I would also like to know this .. I plan to open an IG share dealing ISA and transfer form my IG share dealing account .. not sure if I can transfer shares or just funds ..

 

On 31/12/2020 at 16:08, Matt5100 said:

You can transfer between accounts the cash only. So you have to sell and rebuy.  The process takes a few days to clear the funds as apose to instantly within the same account.  Each account has seperate annual fees. Any transfer in or out of an ISA account will affect that years ISA allowance so be careful.

You can either sell and rebuy but as @Matt5100 mentioned you have to wait a few working days for the funds to settle before you can rebuy. 

You can transfer shares from your share dealing account to ISA via the Bed & ISA process, which involves selling the shares and repurchase them on the ISA account. This process can be done over the phone with one of our dealers.

It'll cost £40 in commission per line of stock to sell the shares on share dealing account but free of charge to repurchase on the ISA. There will also be spread costs which is capped to roughly £30 per line of stock, however, this is generally cheaper for the majority of stocks.

All the best 

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