Transferring stocks to ISA

Hey,

I am new to investing and saving and I’ve recently bought few shares via Freetrade (yay me!).

I’ve also decided to open ISA but I am wondering if there is a way to transfer them to my ISA? I know that you can transfer existing isa to freetrade but I do not have other one.

Thanks for the help

If you are referring to opening basic account and an ISA account, i think you’ll need to sell the shares held in your basic account and re-buy them within the ISA account.

Hey,
yes, exactly. I have some number of shares in basic account and was thinking to move them to ISA.

Hey Filip :wave:

Well done on your first trades! :muscle:

Unfortunately we’re unable to transfer stock between the two account types, only cash therefore you would need to sell down and transfer the cash over to your ISA (our friendly support team can help with that!) or run both accounts separately.

Purely out of curiosity, is this something that could potentially exist if you got the time to implement or is it just a straight up impossibility?

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Can be done. It’s called Bed & ISA iirc.

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awesome, I wasn’t sure if it was a legal thing or not. thanks @anon810895

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Hey,
Thank you all for answers. As a followup - is it possible to transfer money from basic account to ISA account? Or do I need to go through long process of withdrawing them first and then topping up my ISA account?

I do not see this option anywhere in app so I guess it’s not possible (yet?).

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pretty sure that’s not possible yet. I have been withdrawing from basic and adding to ISA via bank account

If you message customer service they’ll move the money over for you.

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no way! that would be so much easier

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Yep! :+1:

As others have said, drop us a message in-app and we’ll get this sorted for you! :grinning:

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HMRC rules are that only cash can be put in an ISA because of subscription limits.

Bed & ISA still sells your assets and transfers cash to an ISA, then rebuys in the market. Either the same assets or different depending on what your instruction is.

Hey, thanks! that great. How long would that transfer take? Is it same day?

Sorry for the delay here Filip! :disappointed_relieved:

It’s not same day at present unfortunately. Our current timeframe to complete these is 3-5 working days but we often get through them much faster than that. :+1: