littleoldlady
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Post by littleoldlady on Apr 3, 2019 13:04:20 GMT
Well AC have answered my first question - you do have to move funds from QAA to Cash yourself. I have not dared turned on “invest idle funds” for fear that it will sweep the funds back into the QAA so I will have some cash drag. No, it does not work like that. I am currently going through a partial transfer out of some ISA funds. I have moved the money to my cash account (as you have) but because I have "invest idle funds" set on, the money ALSO "displays" in my QAA to indicate that I am earning interest on it. If it were actually swept back into the QAA it would NOT show in my cash account. As mentioned above, I am currently going through this process so I can confirm that this works as I described. In that case I don't see any point in putting it in the QAA, just leave it in cash and have "invest idle funds" set on.
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warn
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Post by warn on Apr 3, 2019 15:27:54 GMT
No, it does not work like that. I am currently going through a partial transfer out of some ISA funds. I have moved the money to my cash account (as you have) but because I have "invest idle funds" set on, the money ALSO "displays" in my QAA to indicate that I am earning interest on it. If it were actually swept back into the QAA it would NOT show in my cash account. As mentioned above, I am currently going through this process so I can confirm that this works as I described. In that case I don't see any point in putting it in the QAA, just leave it in cash and have "invest idle funds" set on. The only practical difference, I believe, is that you can say which account your QAA interest goes to, but your Cash interest stays in the Cash account (possibly swept, of course). Note though that there is a lower limit on "swept" funds than there is on direct QAA investment. To quote AC: The minimum investment in the QAA is £1 and the maximum direct investment is subject to a cap per investor, currently set at £200,000. You also have the option to invest any idle funds you have on your other accounts in the Quick Access Account until you need them. There is currently a cap of £100,000 of these swept funds per person and this is independent of any direct investment in this account.
Academic as far as I'm concerned, but you may find it relevant...
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littleoldlady
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Post by littleoldlady on Apr 3, 2019 15:55:20 GMT
Academic as far as I'm concerned, but you may find it relevant... I wish. 
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Post by squeezedmiddle on Oct 20, 2019 12:53:48 GMT
Which new isa providers have people successfully transferred to (from the assetz capital IFISA)
Thanks
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hantsowl
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Post by hantsowl on Oct 20, 2019 13:22:42 GMT
Which new isa providers have people successfully transferred to (from the assetz capital IFISA) Thanks PL and CP and CR
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baboonery
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Post by baboonery on Oct 20, 2019 16:38:41 GMT
Which new isa providers have people successfully transferred to (from the assetz capital IFISA) Thanks GS
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littleoldlady
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Post by littleoldlady on Oct 20, 2019 16:46:00 GMT
Which new isa providers have people successfully transferred to (from the assetz capital IFISA) Thanks CrowdProperty CapitalRise
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littleoldlady
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Post by littleoldlady on Oct 20, 2019 17:12:12 GMT
Your ISA account does have a reference code but I'm not sure it's displayed. Equally it's trivial to look up from the normal L*** reference code. It is not trivial to me. How can I find my account reference code? AFAIR I have never quoted this on a transfer out, just my email address.
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sl75
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Post by sl75 on Oct 20, 2019 19:31:08 GMT
Your ISA account does have a reference code but I'm not sure it's displayed. Equally it's trivial to look up from the normal L*** reference code. It is not trivial to me. How can I find my account reference code? AFAIR I have never quoted this on a transfer out, just my email address. The "normal L*** reference code" is the one on tax statement or that you use when depositing cash as I understand it.
I think chris 's comment meant "... it's trivial for AC admin staff to look up from ..."
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hantsowl
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Post by hantsowl on Oct 20, 2019 21:17:11 GMT
Your ISA account does have a reference code but I'm not sure it's displayed. Equally it's trivial to look up from the normal L*** reference code. It is not trivial to me. How can I find my account reference code? AFAIR I have never quoted this on a transfer out, just my email address. I contacted AC to ask this for my transfer out. You can find this as follows.... Manage Funds -> Deposit Funds Choose IFISA as the account to deposit to. Close the ISA declaration window with the x at top right. Choose an Account -> Cash Account. Your Account Reference should then be listed. Take a note of the reference and then exit the window. Not the most user-friendly of interfaces, but you get there eventually.
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littleoldlady
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Post by littleoldlady on Oct 20, 2019 21:21:38 GMT
I can't see any account number on my tax statement. The reference for deposits is ISA then my surname then the first two digits of my Christian name then a 3 digit number with no spaces eg ISASMITHJO123 is that it?
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hantsowl
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Post by hantsowl on Oct 20, 2019 22:15:05 GMT
I can't see any account number on my tax statement. The reference for deposits is ISA then my surname then the first two digits of my Christian name then a 3 digit number with no spaces eg ISASMITHJO123 is that it? Yes, that is correct.
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littleoldlady
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Post by littleoldlady on Oct 29, 2019 15:34:35 GMT
Well done AC. Just completed an ISA transfer in just 9 days from posting form. this is a record for me.
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trium
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Post by trium on Oct 31, 2019 2:17:40 GMT
Well AC have answered my first question - you do have to move funds from QAA to Cash yourself. I have not dared turned on “invest idle funds” for fear that it will sweep the funds back into the QAA so I will have some cash drag. No, it does not work like that. I am currently going through a partial transfer out of some ISA funds. I have moved the money to my cash account (as you have) but because I have "invest idle funds" set on, the money ALSO "displays" in my QAA to indicate that I am earning interest on it. If it were actually swept back into the QAA it would NOT show in my cash account. As mentioned above, I am currently going through this process so I can confirm that this works as I described. I don't mean to harp on, nor to doubt your word, but this from Assetz (page 4) seems inconsistent: As I have initiated a transfer today I really could do with knowing for sure - to sweep or not to sweep? Edit - link to Assetz "How to" guide fixed
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littleoldlady
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Post by littleoldlady on Oct 31, 2019 8:50:08 GMT
I can only assume that as a result of accumulated changes to their system we have arrived at this anomalous situation where the difference between the cash account and the QAA is rather blurred when "Invest idle cash" is turned on. Then simplest is to have all "instant" access funds in the cash account in my experience.
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