Moving Share dealing account to ISA account within IG

[AnnieV]

Hi all,

I am new to this and have created and active on the share dealing account with IG for a few weeks. However, I realised that share dealing account is not an ISA account and I want to move/ combine it with my IG ISA account which I just created and has nothing in it.

Is it possible to do it? and does it cost me money?

Also if I want to move my ISA account which has some active shares in it from another platform to IG ISA will it cost me money too?

 

Many thanks

[CharlotteIG]

On 22/01/2021 at 10:45, AnnieV said:

Hi all,

I am new to this and have created and active on the share dealing account with IG for a few weeks. However, I realised that share dealing account is not an ISA account and I want to move/ combine it with my IG ISA account which I just created and has nothing in it.

Is it possible to do it? and does it cost me money?

Also if I want to move my ISA account which has some active shares in it from another platform to IG ISA will it cost me money too?

 

Many thanks

Hey @AnnieV, 

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.

If you're interested in doing so, please call us. 

Alternatively you can sell the stock on your share dealing account, wait for the funds to settle and then buy them back. You will have to pay the commission and the stock price can move over 2/3 day settlement period. 

I hope this helps. 

Charlotte