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Transfer shares from employers SIP to IG share dealing account


PaulSSE

Question

Posted

Hi there,

I'm looking to transfer some shares from an Equateplus account to my IG share dealing account. Upon initiating the request, because the shares were obtained via my employers SIP, it says to ask my provider to initiate the transfer.

They require some information and upon doing a search, I found a very similar question where for some of the answers given were to use my account number for the SWIFT number as well as something else. This is not accepted as it can't be validated by the Equateplus website.

The information they ask for is as follows.

Account number. Is this the same as the Account ID?

Broker Email Address, I believe this to be transfers@ig.com

Clearing information, Please ask you bank/brokerage which settlement and clearing information is required in order to receive your shares. Settlement and clearing information typically includes the SWIFT address of your bank/brokerage as well as a local depositary ID such as Crest ID for UK securities.

Brokerage code - Bank Code or ABA number

SWIFT or BIC

Brokerage Name, City, Street and Postal Code - I have IG Index and the London address.

If I type IG Index into the name field of the brokerage form on Equateplus, it suggests the following information but as the address is different, I wasn't sure whether to proceed

SWIFT or BIC INXEGB21XXX

IG INDEX LIMITED
LONDON
FRIARS HOUSE
SE1 8EZ

 

Appreciate any help.

3 answers to this question

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Posted
On 31/08/2022 at 23:09, SamWidge said:

Hi,

Did you ever get this resolved? I have the same problem.

Many Thanks.

Hi @SamWidge,

Thank you for you post.
Have you tried to start a transfer request from My IG?
You can find further information on how to transfer your shares in on the link below:
https://www.ig.com/uk/help-and-support/investments/transferring-investments/how-do-i-transfer-my-shares-or-isas-from-another-broker-to-ig

Here's a screenshot for your reference:
image.png

I hope that it helps

Thank you - Arvin

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Posted

I don't think it's a case of initiating a stock transfer. EquatePlus says on their site:

Am I required to open a bank account with you?
No, you are not required to open a bank account with us. However, we do need you to provide us with your existing bank or brokerage account details when you want to place a transaction. This allows us to route the proceeds (cash or shares) correctly to your account.

You can provide EquatePlus with your bank and brokerage account details by clicking on the Profile picture on EquatePlus, selecting "Financial details" from the drop-down menu, and going to the "Add bank details" link (at the top of the page), or scrolling down to the "Add brokerage details" link.

Following the instructions outlined above initiates a process which requests all the information the OP outlined above. This can (should) be done before the SIP option matures, so that the shares can be assigned to the brokerage account when they are awarded.

So... how do we complete this form with all this information from IG?

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