Move cash from GIA to ISA bypassing bank transfers

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:

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

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I also had to cancel my existing vote :sweat_smile:

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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

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

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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:

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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.

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So I’m not sure if this belongs in chat or ideas…

I’ve just opened an ISA (better late than never :raised_hands:) and am wondering how to transfer my holdings or just some cash.

Ideally, I’d like to be able to tap and automatically sell in basic and rebuy in the ISA. Failing that, I’d like to be able to sell myself and transfer the cash between the two accounts.

Right now it seems like the only option is to sell, withdraw funds then transfer them back again. Which seems a bit of a faff.

Tell me there’s a better way! :grin: :freetrade:

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Hello Peter :wave:

I asked the same query when I first joined. You have to sell, ask support to transfer the money into your ISA and then rebuy - at the moment there doesn’t seem to be a better option.

No you can sell of your basic and then FT will move your balance to the ISA or vice-versa. I’ve just done this although the process of selling and re purchasing at no cost lost me 2 days in the market.

No you still pay stamp duty I’m afraid. It’s a pain but my fault for not just opening an ISA from the start.