Hey all,
Quick (possibly dumb) question on transferring in a S&S ISA. The help articles suggest it takes upwards of 6 weeks. What happens in the meantime? I can still buy stocks with my current broker or FT?
Cheers
Hey Stu, yes, you should be able to place trades with your current provider during this period.
Please do check with them in advance though.
Thanks
I’m in this exact situation, since my current provider hasn’t accepted/initiated the transfer yet and Freetrade asked me to open an ISA I don’t believe the Freetrade isa is usable under the rules, (but the current provider would be) I’m not even sure I’m really supposed to open one though Freetrade staff said it was Ok to do so (and required for the transfer to occur)
In all other cases a transfer (with other providers) has opened the ISA account as the transfer occurred. Freetrade don’t seem to do this… seems a bit of a grey area.
Will this be improved? As I’ll be honest it was kind of confusing, contrary to what I expected and Freetrade initially charged me for an ISA I couldn’t use until the transfer is completed.
Thanks both for the answers!