Transferring share from Halifax share dealing to ig isa

[Kkr76]

Hi 

need ur suggestions, I had   shares in Halifax share dealing account, I would like to transfer to ig isa.

how can do it. 

Is it straight forward transfer after filling relevant forms form Halifax and initiate the proces.

or 

to sell in Halifax and transfer money to lg.

[CharlotteIG]

2 hours ago, Kkr76 said:

Hi 

need ur suggestions, I had   shares in Halifax share dealing account, I would like to transfer to ig isa.

how can do it. 

Is it straight forward transfer after filling relevant forms form Halifax and initiate the proces.

or 

to sell in Halifax and transfer money to lg.

Hey @Kkr76, 

I hope you're well. 

Firstly the transfer would be between Share dealing to share dealing account. Not share dealing to ISA. I will go through the steps you can take to do that after the steps below on how to get your shares to IG. 

So with share dealing transfer you can do on by opening an account with IG. Once opened you can fill our our transfer form by selections MyIG> Live accounts> Change 'Account you're viewing' to share dealing> Transfer. Follow the steps from there. Transfers take around 4-6 weeks depending on how cooperative Halifax is. 

Share dealing to ISA transfer

We can't make transfers from a share dealing to an ISA account so once we have the shares in the share dealing account you have 2 options: 

Option 1: Sell the shared on your Share dealing account, wait for the funds to settle 2/3 working days, move the money to your ISA, buy the share back 

Option 2: 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 have any other questions let me know by quoting my comment or putting @CharlotteIG

[gezmond]

Hi Kkr , as you suggested yourself, much quicker to sell in Halifax and put money straight into IG  ISA...no idea why its suggested to go the long way round and have extra time /hassle and admin?.....

[JS01]

On 08/03/2021 at 14:21, CharlotteIG said:

Hey @Kkr76, 

I hope you're well. 

Firstly the transfer would be between Share dealing to share dealing account. Not share dealing to ISA. I will go through the steps you can take to do that after the steps below on how to get your shares to IG. 

So with share dealing transfer you can do on by opening an account with IG. Once opened you can fill our our transfer form by selections MyIG> Live accounts> Change 'Account you're viewing' to share dealing> Transfer. Follow the steps from there. Transfers take around 4-6 weeks depending on how cooperative Halifax is. 

Share dealing to ISA transfer

We can't make transfers from a share dealing to an ISA account so once we have the shares in the share dealing account you have 2 options: 

Option 1: Sell the shared on your Share dealing account, wait for the funds to settle 2/3 working days, move the money to your ISA, buy the share back 

Option 2: 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 have any other questions let me know by quoting my comment or putting @CharlotteIG

Thanks for the answer. I am also interested to transfer some stocks from another broker. I just checked the IG transfer process as you suggested, which requires to sign the form and post it to you. Is it possbile to sign the form electronically and post it to you via email?

[JS01]

On 08/03/2021 at 14:21, CharlotteIG said:

Hey @Kkr76, 

I hope you're well. 

Firstly the transfer would be between Share dealing to share dealing account. Not share dealing to ISA. I will go through the steps you can take to do that after the steps below on how to get your shares to IG. 

So with share dealing transfer you can do on by opening an account with IG. Once opened you can fill our our transfer form by selections MyIG> Live accounts> Change 'Account you're viewing' to share dealing> Transfer. Follow the steps from there. Transfers take around 4-6 weeks depending on how cooperative Halifax is. 

Share dealing to ISA transfer

We can't make transfers from a share dealing to an ISA account so once we have the shares in the share dealing account you have 2 options: 

Option 1: Sell the shared on your Share dealing account, wait for the funds to settle 2/3 working days, move the money to your ISA, buy the share back 

Option 2: 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 have any other questions let me know by quoting my comment or putting @CharlotteIG

Thanks for the answer. I am also interested to transfer some stocks from another broker. I just checked the IG transfer process as you suggested, which requires to sign the form and post it to you. Is it possbile to sign the form electronically and post it to you via email?

Just answer my own question - I just followed the transfer process. I received an confirmation email at the end. I was asked to reply the email with the signed form attached. All done electronically.  

So far it looks straightforward and stress-free. 

@gezmond for my case, it saves the cost of the stamp duty for UK stocks and foreign exchange fee for US stocks. Tranfering is a better option than selling/buying again.