iWeb 15 February 2020 at 2:27AM in Savings & Investments 20 replies 1.1K views

slinga

Not used to this new style on MSE yet so starting a new thread.

I want to switch funds or part of funds in my iWeb ISA account but can't see how to do it.

Can someone point me in the right direction or tell me what to click or provide 4 or 5 lines on how I do it.

Thanks.

Tom99

Do you not just sell the funds you don't want and buy those you do?

Tom99

Jack71 said:

What is I web

A fund platform. You can buy/sell and hold funds and shares.

bowlhead99

Tom99 said:

Jack71 said:

What is I web

A fund platform. You can buy/sell and hold funds and shares.

The new poster just showed up in the middle of the night and posted ~30 inane comments on a bunch of threads in the space of a few minutes, presumably to build a post count to be allowed to come back and post spam links.  Best to just hit the report/spam button

DiamondLil

Click on the 'Funds Centre' tab, scroll down and on the right of the page is a "transfer to us" link.

benbay001

When i sold a fund in my Iweb account, i clicked on the "+" symbol on the main breakdown page, next to the fund i wanted to sell, clicked on sell and then on the next page i types in the exact number of units Iweb said i held.
Edit: Why TF has my post been marked as spam? 

nothing_to_fear

I don't think there's any specific "switch" feature on IWeb, unlike some platforms.

I.e. you first put in a sell order (for which you have to specify the number of units to sell, not the amount in £ you want from the sale). Then you wait a day or 2 until the cash from the sale becomes available to invest (which doesn't mean waiting until the sale is settled, but until the price is determined by the fund manager and it's been reported back to IWeb's systems). Only after that can you place a buy order (for which you have to specify the amount in £ to invest, not the number of units to buy).

So you will be out of the market for a day or 2. Unless you have enough spare cash in your account to let you place the sell and buy orders at the same time.

It's a bit limited, but then IWeb is *so* cheap (for large, rarely traded accounts that include open-ended funds).

badger09

DiamondLil said:

Click on the 'Funds Centre' tab, scroll down and on the right of the page is a "transfer to us" link.

OP wants to switch funds already held in IWEB ISA, not transfer funds in 

DiamondLil

badger09 said:

DiamondLil said:

Click on the 'Funds Centre' tab, scroll down and on the right of the page is a "transfer to us" link.

OP wants to switch funds already held in IWEB ISA, not transfer funds in 

Yes, thanks badger - just noticed that; (I should refrain from posting until I've had several more coffees).

I'm with IWeb and don't think there is a facility for switching in and out of funds.

slinga

nothing_to_fear said:

I don't think there's any specific "switch" feature on IWeb, unlike some platforms.

I.e. you first put in a sell order (for which you have to specify the number of units to sell, not the amount in £ you want from the sale). Then you wait a day or 2 until the cash from the sale becomes available to invest (which doesn't mean waiting until the sale is settled, but until the price is determined by the fund manager and it's been reported back to IWeb's systems). Only after that can you place a buy order (for which you have to specify the amount in £ to invest, not the number of units to buy).

So you will be out of the market for a day or 2. Unless you have enough spare cash in your account to let you place the sell and buy orders at the same time.

It's a bit limited, but then IWeb is *so* cheap (for large, rarely traded accounts that include open-ended funds).

I'm concerned that if I do things the way you suggest then I'll be selling off an ISA and then rebuying therefore losing some of my annual ISA allowance, if you see what I mean.

Similarly if I want to sell off an ISA and hold it as cash within my ISA account until I decide to purchase an ISA with that cash.

Straight forward in Hargreaves Lansdown but it doesn't appear so straight forward with iWeb.

benbay001

As long as you do not remove the funds from the ISA wrapper back to your current account then it does not come out of your ISA allowance.