Transfer cash from GIA to ISA

As there is no way of transferring stock from GIA to ISA.
My question is, how long does it take to transfer cash ?

Also, how do I go about this, to make it a quick and seamless as possible?

If it’s settled cash then not long at all. Just use the in app chat function to ask one of the team.

After a few security questions they can get that sorted for you

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Cool thanks

I’ve just been told on the in app chat, that it takes 1-2 working days!

It’s quicker for me to manually sell, withdrawal cash into bank, pay it back into ISA and re-buy the shares

What a joke :joy:

I’ve done it several times, longest it took was around 3/4 hours, rest of the time it was under an hour.
They say 1-2 days do it to cover themselves.
Also I don’t think you could sell, withdraw and deposit quicker than that, would take 2 day for the withdrawal alone.

Ahh ok, didn’t realise it took that long to withdrawal

Same here. If the cash has settled (ie has been more than 3 days from selling a share in your gia) then I’ve had it transferred at the longest, the very next working day.

Its too much of a faff for me to withdraw then deposit. Unless I was planing a deposit anyway. In which case, I’d probably just deposit at the same time as the withdrawal :sweat_smile:

Cash flow dependent, what I’ve done in the past is deposit directly into my ISA and as I buy in my ISA, sell in my GIA and then withdraw. More to minimise risk of missing out on SP movements.

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I think this should be implemented. I would love to move some of my Positions from GIA to ISA

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I was looking for an answer to this too.

If I have investments in GIA and transfer to ISA, is it all automated?

Does Freetrade sell all my investments in GIA, transfer, then repurchase them for me in ISA?

or do they just move all the investments across?

Transferring cash via support takes a few hours but cash needs to be settled.

I did this last year and you have to sell all of your positions in your GIA first, then wait for the cash to settle and message support who will initiate the transfer of cash from the GIA to your ISA. The last part takes a few hours.

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Many thanks, this is clear now :smiley:

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No worries, I did find it a bit of a mess about actually and wished there was a smoother way. But once you’re done, you’re done! I saw FT just announced a new way to transfer in ISAs, so seems processes are improving all over. Good luck.

Oh where is the announcement?

I had to borrow money, top up my ISA and withdrawal from my GIA simultaneously to make it seamless.

All seems very archaic. But I guess it’s the price we pay for using a legacy centralised trading platform.
As I imagine the other brokerages are the same?

Edit: Found thread relating to ISA updates. It allows you to transfer an external ISA into Freetrade ISA.
Not helpful for now, but hopefully they can do the same for transferring FT GIA to FT ISA seamlessly, in the not to far future.

I’d also like to be able to transfer my GIA/ISA OUT of FT seamlessly too!

(Saw your edit, but for everybody’s benefit)

Are you referring to in-specie transfers where the actual stocks are moved over (skipping selling & buying).
GIA to ISA: Bed and ISA | How to Bed & ISA - interactive investor.
You can do this through contacting support as mentioned

If you want to transfer in or out an ISA then FT only supports cash transfers. A very small number of brokers support in-specie transfers. It’s not FT that initates a transfer OUT , this should be your new broker.

You can do it from contacting support, but there is a massive delay.
‘Bed & ISA’ option would be ideal and much more useful.

As mentioned, I essentially did this myself, but had to borrow the capital in order to do so. So not ideal and likely not even an option for many people.

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