Move cash from GIA to ISA bypassing bank transfers

(Vladislav Kozub) #1

Not sure whether it is possible from the technical and compliance point of view, but at the moment one needs to (1) sell GIA assets -> (2) withdraw cash to the bank -> (3) wait 1-3 days -> (4) deposit it to ISA -> (5) wait one to two hours -> (6) invest within ISA.

Is there any possibility to avoid steps 2, 3, 4 and 5 and replace them with “transfer cash from GIA to ISA”? I understand share transfers are not permittable and that makes sense, but I think cash transfers would equally be convenient if possible :slight_smile:

0 Likes

(Kenny Grant) #2

I’d vote for this too if not at my limit.

2 Likes

(Vladislav Kozub) #3

I also had to cancel my existing vote :sweat_smile:

1 Like

#4

They have already said if you contact support they will move the money from your GIA to your ISA for you.
And I think they said they plan to implement this as a feature in the app. If not, that would be an important feature to have.

The more interesting feature request would be for them to implement “Bed & ISA”. Ie. an ~instant sell & buy across the accounts so you don’t lose (much) if the share price changes.

See details here: Bed and ISA

3 Likes

(Vladislav Kozub) #5

Feel free to suggest it, maybe it will be given a boost if there is enough demand!

1 Like

(Alex Sherwood) #6

As Sendu mentioned, we already transfer cash from your Basic account (GIA) to your ISA & vice versa, just send the request to our support team via the in-app chat.

We’ll add this functionality to the app, to save you contacting us, later on :slight_smile:

2 Likes

#7

New tax year means I can finally use FT ISA!

This feature would be v useful as you could always transfer cash into GIA and then decide if you want to put it in an ISA.

1 Like