Hargreaves Lansdown payout

ColdIron

As mentioned the payment date was 21/05 not 04/04. What are your Income Instructions?

1. Held on account: This will be transferred to your capital account where you can do what you like with it
2. Automatically re-invested: reinvested between 11th and 21st if £10 or more
3. Paid out: Automatically paid to your nominated account usually on the 14th (SIPP 28th). It will sit in your Income account until then

20SmthngSver

I said April and then May as the payment date from HL, as it says here, 4th April and 21st May, but either way those are the dates on their site: https://www.hl.co.uk/shares/shares-search-results/l/lloyds-banking-group-plc-ordinary-10p

As they explained on the phone to me once, they do not pay out immediately, they keep hold of the pay out for a while, hence the difference in dates. Just what I was told, hence all I have to go on.

As I said above my instructions are to be paid to my nominated bank account.

20SmthngSver

sjp999 wrote: »

I'd have thunk that 2 overnights would've been enough to get the monies into the withdrawal side of your account automatically (I'm never patient enough to wait though) - try the move money menu option below, and if you need to, get on the phone.

Pick whichever account > Cash > Income & Loyalty Bonus > and, if there's an Income Account balance showing, use the transfer balance to capital a bound link below.

It's not instantaneous but you should see it as withdrawable in a wee while.

It says if I transfer to Capital account, I can't withdraw to my bank account:
"Any income you move will no longer be treated in line with your income option, i.e. income will not automatically be reinvested or paid out to your bank account. "

I also just saw this:
"You have asked for income you receive to be paid out. Therefore your income will be paid into your Nominated bank account.

Income is paid out within ten working days of the start of each calendar month and will include all income received since the previous payment date. As a result the amount you receive in your bank account may be different to the amount shown within the income received chart."

londoninvestor

20SmthngSver wrote: »

It says if I transfer to Capital account, I can't withdraw to my bank account:
"Any income you move will no longer be treated in line with your income option, i.e. income will not automatically be reinvested or paid out to your bank account. "

If you transfer it to the Capital account, you should be able to do a manual withdrawal. What they're getting at is that if you move it there, it will no longer be automatically paid to you in the sweep they do in the first ten days of the month.

20SmthngSver

Oh I see. So as it currently stands, it will reach my bank account in the first 10 days of June?

ColdIron

A GIA pays income on the 14th or sooner for bank holidays and weekends. I assume it is the same for an ISA

20SmthngSver

ColdIron wrote: »

A GIA pays income on the 14th or sooner for bank holidays and weekends. I assume it is the same for an ISA

It's not an ISA. It's a Fund & Share account.

ColdIron

20SmthngSver wrote: »

Oh I see. So as it currently stands, it will reach my bank account in the first 10 days of June?

Don't forget the key word below. I would expect you to receive it on Friday 14th June

Income is paid out within ten working days of the start of each calendar month and will include all income received since the previous payment date

ColdIron

20SmthngSver wrote: »

It's not an ISA. It's a Fund & Share account.

Then it will definably be paid Friday 14th June. Mine have been paid on the 14th (or sooner) for years without fail

20SmthngSver

Okay thanks