Hi there
I have asked Freetrade support but still waiting for a reply… but if anyone else knows what happens if I close my ISA to the pending dividends on shares that have gone ex dividend? I sold everything on Monday but I guess there is about £50 of divis on the way… will they just go into my GIA instead? (which I am keeping for now)
thanks for any advice!
Hi @eddieb it depends whether or not you transferred your ISA to another provider. If you did, we would send this cash to your new account when it’s received. Otherwise it will arrive in your GIA as far as I’m aware.
Best,
Alex
Hi Alex, I haven’t yet closed the S&S ISA pending the answer to this question, but I am intending just a straightforward close and keep the GIA going. So it sounds like if I do this I’ll just get the last pending income into the GIA? If so that would be great. Thank you.
If your ISA is still open the cash will go in there. Otherwise it will be paid into your GIA. Just keep in mind if it goes in your GIA there may be tax due (that’s down to your personal circumstances!)
Alex
Just to finish the story on this for anyone finding this at a later point.
Any dividends you are owed after selling shares and closing your ISA are not automatically paid into the GIA.
You will receive an email/notification for each dividend, as usual, and you need to ask support to transfer the money into your GIA.
It’s a bit manual but it’s only for a short time so I can appreciate it probably isn’t worth building an automatic process for this.