ISA Transfer from HL

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Hi all, I am looking to transfer my HL ISA to freetrade. Has one done that here?

If anyone could help on below questions

  • how was the process and were you able to move all relevant (if available) positions to freetrade
  • how long did the process take?
  • were you blocked using HL / freetrade ISA till the process was complete

Thanks,
IB

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Welcome here.

I transferred my HL ISA account to Freetrade few months back.

  1. Process was straightforward, sent the form and then wait, took about 6 weeks to complete transfer. Funds I had were not available on Freetrade so I sold my holdings and transferred as cash
  2. 6 weeks in total
  3. Re blocking, not sure about HL as I didn’t invest during the transfer process but I did invest on Freetrade during that period.

Hope it helps. Any more questions let me know.

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Not HL. But i can give you mt experience of the Freetrade side. Whole things was less than 3 weeks (Vanguard). Once the pervious provider had processed the transfer and Freetrade had received it my shares were available almost immediately (same day, couple of hours) on Freetrade. Same for cash, it was collected a few days later, once the cash was transferred it was available again almost immediately.

Overall much better experience than other ive had where everything will disappear from one broker then reappear in the new broker a number of days later.

It wasn’t blocked for me, but it meant i had two ISAs open at the same time in the same tax year, I couldn’t use the Freetrade one as my previous one was still active and funded within the tax year. It seems a grey area with the rules (what can you using during a transfer) but i dont believe the freetrade one it technically supposed to be used while you have an existing active isa still open.

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That’s helps Gaurav. As I am looking to do partial transfer, hopefully HL and freetrade will be able to manage it. Thanks again.

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Thanks Eden, the rules seems a bit convoluted. I am being told that i won’t be able to trade in none of the account, but Gaurav (first response) had completely different experience.

Yours and Gaurav’s response gives me confidence to proceed with the process.

Cheers

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