Withdrawal of cash from AJ Bell S&S ISA

Audaxer

I made an online cash withdrawal today from my S&S ISA with AJ Bell, but was surprised that there was no confirmation receipt showing the amount I had withdrawn to my nominated bank account. When I went back into the account the money had been deducted from the cash available, but nothing was showing on the cash statement, or anywhere else on my account to show a cash transaction was pending.

When I enquired with AJ Bell they said no confirmations were issued and it would not show on the Cash Statement for 3-5 days. I know it takes that time to get to my bank, but I was disappointed that there was no confirmation that you could view or print off in the meantime, similar to when you transfer cash online from a bank account.

Just wondering if other major platforms issued confirmations when cash is withdrawn, or whether they would normally show on the accounts as pending withdrawals?

Alexland

Not much response so I will give your post a bump by saying that I don't know as I am not yet at a stage where withdrawal from a S&S ISA would happen.

Thrugelmir

Audaxer wrote: »

similar to when you transfer cash online from a bank account.

Given the volume of transactions. Unlikely that the software is anywhere near as sophisticated. The transaction is most likely part manually processed.

Audaxer

Thrugelmir wrote: »

Given the volume of transactions. Unlikely that the software is anywhere near as sophisticated. The transaction is most likely part manually processed.

I'm surprised the software isn't sophisticated enough to perform a simple confirmation of some sort as AJ Bell are one of the biggest DIY platforms.

I would be surprised if the likes of HL and others do not have at least a simple onscreen confirmation for withdrawals.

Thrugelmir

[QUOTE=Audaxer;73918058]I'm surprised the software isn't sophisticated enough to perform a simple confirmation of some sort as AJ Bell are one of the biggest DIY platforms.

I would be surprised if the likes of HL and others do not have at least a simple onscreen confirmation for withdrawals.[/QUOTE]

If there's not off the shelf solutions then bespoke technology is very expensive. Simply being big in customer numbers means little. Low cost and high investment aren't good bedfellows. If transactional volume is low then cost outweighs any benefits. Once the payment is made seems the appropriate time to provide you with a remittance advice.

hoc

I've not yet withdrawn. I am surprised with what you say as subscription amounts immediately show up on cash transactions and are available to use (invest) immediately.