NS&I to HL in 5 days

JusinScot

I need to move money from my NS&I account to my Lisa account with Hargreaves Lansdown.

I want to do this on the 1st to qualify for the premium bonds draw.

Can I move it directly to HL?
Or do I need to go NS&I to my bank account then HL?
Will the transfer be done in under 5 days?

Thank you

ColdIron

I don't know for sure but I am guessing you will need to go via your bank account. It won't be instant and will depend on what account you have with them and when you instruct the transfer. Have a look at this for timescales

https://www.nsandi.com/how-long-does-it-take-receive-withdrawal-payment

Payment from your bank account to HL using your debit card should be pretty much instant

redux

I was just about to post the same link.

It says that for an online or phone insruction before 8pm on the 1st, money in your bank by the 3rd (corrected, see below)

I haven't checked what time of day for the draw.

ColdIron

I think you are using May for Friday 3rd/Monday 6th. Presumably OP wants to transfer before the April 5th tax year cut off

redux

Oops, yes, sorry.

eskbanker

It should work but seems an avoidable risk to me, given the odds - if it's the full £4K we're talking about, a LISA holder missing the 5 April deadline throws £1,000 straight down the drain by not getting the 'use it or lose it' 2018/19 allowance into the account in time, whereas it only has a 15% chance of winning anything (£25 in all likelihood) in the PB draw. Smaller amounts would obviously lower both sides of the equation in parallel....

Mr.Saver

eskbanker wrote: »

It should work but seems an avoidable risk to me, given the odds - if it's the full £4K we're talking about, a LISA holder missing the 5 April deadline throws £1,000 straight down the drain by not getting the 'use it or lose it' 2018/19 allowance into the account in time, whereas it only has a 15% chance of winning anything (£25 in all likelihood) in the PB draw. Smaller amounts would obviously lower both sides of the equation in parallel....

You haven't count the potential growth in the LISA if it's a S&S LISA. Anything can happen in a trading day's time.