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Post by glocal on Jun 17, 2018 20:51:37 GMT
I am considering transferring in to FC an existing IFISA currently in an Assetz Capital 30-day Access account. I will need to give Assetz Capital a 30-day notice and then the funds will be deposited in a cash account within the IFISA wrapper. My question is when should I initiate the transfer-in at FC's end to minimise delay and loss of interest? I have a Classic and an IFISA account with FC already, so it's all set up. From previous experience, ISA transfers can take a while.
Thanks
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Jun 17, 2018 22:26:03 GMT
I am considering transferring in to FC an existing IFISA currently in an Assetz Capital 30-day Access account. I will need to give Assetz Capital a 30-day notice and then the funds will be deposited in a cash account within the IFISA wrapper. My question is when should I initiate the transfer-in at FC's end to minimise delay and loss of interest? I have a Classic and an IFISA account with FC already, so it's all set up. From previous experience, ISA transfers can take a while.
Thanks
In theory you should be able to specify on the the transfer form that you want the transfer to be actioned when the money is avaliable on AC after the notice period. (much as you would with a notice cash ISA) So possibly on receipt of the transfer form AC would take that as an instruction to initiate the 30day notice period & transfer the funds once that time is up or wait for you to initiate the notice period & then transfer funds once it has expired. Might be worth asking AC how they would handle transfers requests in that scenario.
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Post by Ace on Jun 17, 2018 22:39:34 GMT
I am considering transferring in to FC an existing IFISA currently in an Assetz Capital 30-day Access account. I will need to give Assetz Capital a 30-day notice and then the funds will be deposited in a cash account within the IFISA wrapper. My question is when should I initiate the transfer-in at FC's end to minimise delay and loss of interest? I have a Classic and an IFISA account with FC already, so it's all set up. From previous experience, ISA transfers can take a while.
Thanks
There's usually space on the transfer form to specify that you want the funds liquidated then transferred. If it were me I would complete FC's transfer form and give notice on the AC 30 day account at the same time; can't see any disadvantage in that. Not that I'm giving advice and not that it's necessarily a bad thing, but from my reading of the P2P forums your swimming against the tide in going from AC to FC! I'm in both platforms, and many others, but it's too soon to comment from my own investments so far. Good luck. Edit: crossed with ilmoro.
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Post by glocal on Jun 19, 2018 12:00:50 GMT
Many thanks for the replies. I am checking with FC, and hopefully they can handle an instruction to start the process and wait for as long as it is necessary for funds to be made available for transfer.
On the direction of travel, I can't ignore that for a while my FC interest at 10%+ has been double what I get from AC, but rates can change and defaults can go up as my FC loans age.
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