Post by rogerbu on Aug 7, 2016 8:19:15 GMT
FS has released an August Newsletter which contains a link to their IFyISA FAQ Page www.fundingsecure.com/investors/innovative-finance-isa
One line grabbed my attention
'How can I transfer my existing investments into an IFISA? We will be offering a feature on our website whereby you can transfer all or part of any investment from your normal account into your IFISA, providing there are sufficient funds. You can also transfer your account balance, although this will count towards your deposit limit....' my underscores.
I didn't think that normal ISA rules allowed transfers of holding from a non ISA account into an ISA account, without going via a sale and rebuy process.
Transferring held loans and account balances in looks far to sensible to be allowed.
Am I mis-reading FS's FAQs
One line grabbed my attention
'How can I transfer my existing investments into an IFISA? We will be offering a feature on our website whereby you can transfer all or part of any investment from your normal account into your IFISA, providing there are sufficient funds. You can also transfer your account balance, although this will count towards your deposit limit....' my underscores.
I didn't think that normal ISA rules allowed transfers of holding from a non ISA account into an ISA account, without going via a sale and rebuy process.
Transferring held loans and account balances in looks far to sensible to be allowed.
Am I mis-reading FS's FAQs
