How to Release Cash from NBS Mini Stocks/Shares ISA?

edited 30 November -1 at 1:00AM in ISAs & Tax-free Savings
3 replies 887 views
wotnoshoesehwotnoshoeseh Forumite
223 Posts
edited 30 November -1 at 1:00AM in ISAs & Tax-free Savings
Hi All,
I've got a mini S/S ISA with NBS and was interested to know firstly how to get the cash released!

Also, secondly, can I leave instruction to release the cash once the unit trust value gets to a certain level e.g. £1.10 per unit?

Can I leave such an instruction with NBS?, or is it just a case of manually watching the unit trust price and getting them to action/release cash as and when I request it?

Also, do I have to release all of the cash at one go, or can I take a portion of it?

Any suggestions would be welcome!

Cheers,
wotnoshoeseh
Cheers,
wotnoshoeseh

Replies

  • dunstonhdunstonh Forumite
    106.8K Posts
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    A lot of the answer depends on the ISA provider. Usually you just write to them asking them to withdraw X amount or X number of units. Most will not offer a sell on price obtained because that would mean transferring the funds to another fund and potentially incurring charges or withdrawing the ISA therefore losing your allowance.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • Thanks for your response dunstonh. Do you mean that I would have to monitor the fund myself and then write to them requesting to sell so many unit trusts?
    The delay in requesting to sell and selling could result in a different price for the unit trust from when it was requested. Is this the case?

    Cheers,
    wotnoshoeseh
    Cheers,
    wotnoshoeseh
  • dunstonhdunstonh Forumite
    106.8K Posts
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
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    Some providers will take an online switch instruction. You could re-register with one of those if your current ISA provider doesnt allow it.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
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