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Post by elephantrosie on Aug 22, 2020 21:25:35 GMT
Hi all,
I am looking to transfer my IFISA from AC to cash ISA. How do i do so?
Thanks. Invest safe!
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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 Aug 22, 2020 21:40:51 GMT
Hi all, I am looking to transfer my IFISA from AC to cash ISA. How do i do so? Thanks. Invest safe! Depends on where is the money in AC and how you can convert it into cash. Is it current or previous year money? For previous basic process is the same as any other ISA transfer, complete a transfer form for the new provider and they will initiate the process but if the money is invested in loans at AC nothing can happen until its converted into free cash. For current, same issue but as AC is a flexible ISA, in theory you can move the money yourself to a current year cash ISA
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blender
Member of DD Central
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Post by blender on Aug 22, 2020 22:29:12 GMT
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Post by elephantrosie on Aug 23, 2020 2:52:55 GMT
Hi all, I am looking to transfer my IFISA from AC to cash ISA. How do i do so? Thanks. Invest safe! Depends on where is the money in AC and how you can convert it into cash. Is it current or previous year money? For previous basic process is the same as any other ISA transfer, complete a transfer form for the new provider and they will initiate the process but if the money is invested in loans at AC nothing can happen until its converted into free cash. For current, same issue but as AC is a flexible ISA, in theory you can move the money yourself to a current year cash ISA cash in IFISA AC
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littleoldlady
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Running down all platforms due to age
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Post by littleoldlady on Aug 23, 2020 7:37:57 GMT
I assume that you live in the UK despite the timing of your last post (otherwise you should not have an ISA at all).
You choose another ISA provider which accepts transfers in (not all do), open an ISA account if you don't already have one and ask them to request a transfer from AC. If you don't have any other 20/21 ISA there should be no problem but some companies will not accept transfers in to an empty account so watch out for that. Remember that you can only subscribe new money to one ISA in 20/21. This does not include transfers of previous year's subscriptions. On no account ask AC yourself, because if they interpret that as a withdrawal you will lose tax shelter.
I should bone up on all the ISA rules anyway.
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dead-money
Rocket to the Moon
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Post by dead-money on Aug 23, 2020 8:53:26 GMT
I assume that you live in the UK despite the timing of your last post (otherwise you should not have an ISA at all). You choose another ISA provider which accepts transfers in (not all do), open an ISA account if you don't already have one and ask them to request a transfer from AC. If you don't have any other 20/21 ISA there should be no problem but some companies will not accept transfers in to an empty account so watch out for that. Remember that you can only subscribe new money to one ISA in 20/21. This does not include transfers of previous year's subscriptions. On no account ask AC yourself, because if they interpret that as a withdrawal you will lose tax shelter.
I should bone up on all the ISA rules anyway.You can maintain existing ISAs if overseas, you just can't add new contributions. You can undertake transfers whilst overseas.
You can subscribe to one of each type of ISA per tax year, so you can open a new Cash ISA, a new IF ISA and a new S&S ISA in any given year.
AC's IFISA is a flexible ISA, so if you added £20K, then removed £20K in the same tax year, your net ISA contribution is Zero; so you could still contribute £20K elsewhere if you wished.
The main issue with IF ISAs is being able to liquidate all holdings and fully close the account, so any transfer is going to be partial of your free cash holdings only.
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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 Aug 23, 2020 9:23:39 GMT
I assume that you live in the UK despite the timing of your last post (otherwise you should not have an ISA at all). You choose another ISA provider which accepts transfers in (not all do), open an ISA account if you don't already have one and ask them to request a transfer from AC. If you don't have any other 20/21 ISA there should be no problem but some companies will not accept transfers in to an empty account so watch out for that. Remember that you can only subscribe new money to one ISA in 20/21. This does not include transfers of previous year's subscriptions. On no account ask AC yourself, because if they interpret that as a withdrawal you will lose tax shelter.
I should bone up on all the ISA rules anyway.You can maintain existing ISAs if overseas, you just can't add new contributions. You can undertake transfers whilst overseas.
You can subscribe to one of each type of ISA per tax year, so you can open a new Cash ISA, a new IF ISA and a new S&S ISA in any given year.
AC's IFISA is a flexible ISA, so if you added £20K, then removed £20K in the same tax year, your net ISA contribution is Zero; so you could still contribute £20K elsewhere if you wished.
except any interest or other gain can't be subscribed to another ISA so would have to be moved by a transfer or left in AC.
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Post by drphil on Aug 23, 2020 19:33:07 GMT
I assume that you live in the UK despite the timing of your last post (otherwise you should not have an ISA at all). You choose another ISA provider which accepts transfers in (not all do), open an ISA account if you don't already have one and ask them to request a transfer from AC. If you don't have any other 20/21 ISA there should be no problem but some companies will not accept transfers in to an empty account so watch out for that. Remember that you can only subscribe new money to one ISA in 20/21. This does not include transfers of previous year's subscriptions. On no account ask AC yourself, because if they interpret that as a withdrawal you will lose tax shelter. I should bone up on all the ISA rules anyway. And some providers that do accept transfers in will not accept them from IFISAs
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ceejay
Posts: 975
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Post by ceejay on Aug 24, 2020 9:11:55 GMT
I assume that you live in the UK despite the timing of your last post (otherwise you should not have an ISA at all). You choose another ISA provider which accepts transfers in (not all do), open an ISA account if you don't already have one and ask them to request a transfer from AC. If you don't have any other 20/21 ISA there should be no problem but some companies will not accept transfers in to an empty account so watch out for that. Remember that you can only subscribe new money to one ISA in 20/21. This does not include transfers of previous year's subscriptions. On no account ask AC yourself, because if they interpret that as a withdrawal you will lose tax shelter. I should bone up on all the ISA rules anyway. And some providers that do accept transfers in will not accept them from IFISAs And some providers who apparently don't accept IFISA transfers (because their documents refer only to Cash and S&S) actually will if you push the point.
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Post by Ace on Dec 2, 2020 21:55:25 GMT
Could someone point me to where I find the Account Number for my Assetz Capital IFISA Cash Account please?
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Post by Ace on Dec 2, 2020 22:30:43 GMT
Could someone point me to where I find the Account Number for my Assetz Capital IFISA Cash Account please? To answer my own question, incase anyone else struggles to find it for a transfer form. I found it by downloading the CSV file for my IFISA Cash Account. It was at the end of the last column in the form ISAxxxxxxxxnnn.
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dead-money
Rocket to the Moon
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Post by dead-money on Dec 3, 2020 8:43:13 GMT
Could someone point me to where I find the Account Number for my Assetz Capital IFISA Cash Account please? To answer my own question, incase anyone else struggles to find it for a transfer form. I found it by downloading the CSV file for my IFISA Cash Account. It was at the end of the last column in the form ISAxxxxxxxxnnn. Also shown on the deposit funds page, just setup a one-off deposit and then cancel.
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Post by closetotheedge on Jan 15, 2021 18:44:59 GMT
Just done 4 transfers from the family's AC ISA accounts out to a building society. Just looking to reduce our holdings a bit so nothing dramatic.
Thought it worthy of note that I posted the forms off to the building society on Monday afternoon just catching the last post collection. AC received the requests from the building society Tuesday lunchtime and had processed them and sent the funds by Wednesday evening with them showing on the accounts at the other end by Friday first thing. For each one I received emails to notify me each time the transfer progressed a stage.
Very impressive administration.
I am the grumpiest of grumpy customers but credit where credits due.......
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Post by gramsky on Jan 16, 2021 10:11:29 GMT
Sorry to butt-in, but I have another related question. Do the ISA rules allow me to open 2 new ISAs and transfer into each of them. Since I am not paying new funds into an ISA do the rules allow this? Thanks you.
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qwakuk
Member of DD Central
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Post by qwakuk on Jan 16, 2021 10:15:03 GMT
Sorry to butt-in, but I have another related question. Do the ISA rules allow me to open 2 new ISAs and transfer into each of them. Since I am not paying new funds into an ISA do the rules allow this? Thanks you. Yes, as long as you only transfer previous contributions
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