IFISAcava
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Post by IFISAcava on Aug 13, 2019 9:27:39 GMT
Has anyone had any success this way around? Or know any S&S providers who will accept an IFISA transfer?
So far Fidelity, Vanguard and Charles Stanley have told me they can't accept cash transfers from any IFISA.
Are IFISAs a one way ticket?
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benaj
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Post by benaj on Aug 13, 2019 9:52:21 GMT
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james100
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Post by james100 on Aug 13, 2019 10:06:30 GMT
I'm almost certain interactive investor will accept. I did an electronic transfer in to them last year (from another s&s ISA provider though) and pretty sure I remember seeing Ablrate (at least) on the drop down list of incoming fund sources. Their customer service is pretty ok these days so worth giving them a ring.
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carolus
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Post by carolus on Aug 13, 2019 11:33:16 GMT
Has anyone had any success this way around? Or know any S&S providers who will accept an IFISA transfer? So far Fidelity, Vanguard and Charles Stanley have told me they can't accept cash transfers from any IFISA. Are IFISAs a one way ticket? I've had confusion from my broker (Lloyds Sharedealing), when I tried to transfer an IFISA. My IFISA provider was on the list, but the only options to choose which type of ISA it was were "Cash" and "Stocks and Shares". Customer support initially told me that they didn't accept IFISA transfers, until I pointed out the T&Cs said they did.
They told me that I should choose "Cash" and then write on the form that ti was cash from an IFISA. Might be worth seeing what the T&Cs of your broker say.
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ceejay
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Post by ceejay on Aug 14, 2019 9:25:34 GMT
Hargreaves Lansdown apparently won't: the dropdown on their Transfer In form lists "Cash ISA" and "Stocks and Shares ISA" only. That's not to say they wouldn't do it with a manual intervention, of course. I haven't asked.
But don't forget that you can always do a double transfer via a Cash ISA if you really have to, so you won't be stuck forever!
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IFISAcava
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Post by IFISAcava on Aug 14, 2019 10:07:22 GMT
Hargreaves Lansdown apparently won't: the dropdown on their Transfer In form lists "Cash ISA" and "Stocks and Shares ISA" only. That's not to say they wouldn't do it with a manual intervention, of course. I haven't asked. But don't forget that you can always do a double transfer via a Cash ISA if you really have to, so you won't be stuck forever! Indeed - that was my fallback. Bit of a palaver though!
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aj
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Post by aj on Aug 14, 2019 10:09:57 GMT
I have twice transferred into an iWeb S+S ISA successfully.
Often ISA providers websites haven't caught up to an IFISA as an option; in this case select Cash ISA. To transfer a balance from an IFISA it will need to be held in cash anyway.
The S+S transfer option is there so shareholdings can be transferred without having to sell to cash while the transfer takes place.
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IFISAcava
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Post by IFISAcava on Aug 14, 2019 10:20:36 GMT
I have twice transferred into an iWeb S+S ISA successfully. Often ISA providers websites haven't caught up to an IFISA as an option; in this case select Cash ISA. To transfer a balance from an IFISA it will need to be held in cash anyway. The S+S transfer option is there so shareholdings can be transferred without having to sell to cash while the transfer takes place. you'd think that would be the case. But several providers are adamant they wont accept an IFISA even in cash. Their loss. Interestingly, for a while when I was in the vanguard of transferring into IFISAs, some IFISA providers didn't have the option of a transfer from another IFISA! Had to use the cash ISA transfer form instead, and in one case they redesigned a form and sent it to me.
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benaj
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Post by benaj on Aug 14, 2019 10:42:42 GMT
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Post by bluehorseshoe on Aug 17, 2019 11:26:22 GMT
I've recently transferred some IFISA cash from LendingWorks into my x-o S&S ISA without any problems.
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IFISAcava
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Post by IFISAcava on Sept 9, 2019 22:05:29 GMT
In the end, I decided that I prefer to keep my S&S investments in the same place rather than open a new account, so will do a cash ISA transfer from a few IFISAs (with too much cash drag or in need of rebalancing/de-risking) and then an onwards S&S transfer.
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benaj
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Post by benaj on Sept 10, 2019 8:19:08 GMT
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IFISAcava
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Post by IFISAcava on Sept 10, 2019 12:26:29 GMT
Perhaps too many are doing what I am doing?!
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