Transfer between Accounts

[TwinkleIreland]

You have had a 'technical issue'  since last Friday  that prevents inter-account transfer.    When to plan to have it fixed.   Live Chat cannot help !    Dealing phone Number does not answer .     Has IG died ?  !

[OptionsTraderNew]

Hi @TwinkleIreland how do you do it? I want to transfer funds between to CFD accounts (one in GBP and the other in USD) but I get this error:

 

Sorry, we can only transfer funds if both accounts are in the same currency. Please contact our helpdesk on 058 810 77 02

[miiky]

Hi yes I think they have. 2 hours plus over a couple of days and still cant get someone to pickup. No chat too

[miiky]

YEEEEAAAAHHHH!!  Finally got through. Good luck TwinkleIreland

[miiky]

Bad news if you get a little hammer on your falling stock like I did. Prov Financial PLC fell 25% and no one contactable to sell and not online. £400 down but could nhave been worse. Really bad

[TwinkleIreland]

I found out by trial -and-error,  thesolution to the  'technical issue' !   (Which the technical help did not know ! )      You have to convert any balances into your base currency  and then you can move amounts of your base currency  to wherever you want.  If you want to use your funds in their new home in a different currency you must then convert them again.    That means if your base Currency is say UK£  and you have a balance  of US$ in one account  and you want to use it to buy a US$ denominated holding  in another account,  you have to Convert the Dollars in Account One  into your base UK£.    Then you can move UK£ from Account One to Account Two.   Then in Account Two  you must convert your UK£ back into US$ and then you have dollars to what it was you wanted to do in US$.     In fairness, I thought I would lose a bit of a fee or spread on each conversion,   but, unless I was just lucky with the way the currencies moved, while I was mucking about,  IG did seem to do each conversion at the same UK: $ Rate.     What it does mean is that if you change your mind about whatever you wanted to use your US$ to do,  you must decided in which currency you wish to hold your balance while you wait