Can you transfer ISA Funds into iWeb ISA without selling them?

mears1

Does anyone know or experienced about transferring ISA funds to iWeb's Isa? I will like to make the fund transfer to without selling them (as the funds have dropped a lot) and rebuying them ie want to stay in the market.  This  transfer may be called in Species. Also, are there any additional costs? Can't get a straight reply from iWeb.

masonic

Any additional costs would come from your existing ISA manager, so iWeb is not in a position to help.

AndyTh_2

on iWeb's side for in specie there's no charge, not even a trade charge, from my experience. I can't remember the form, but it would give you the choice of selling or transferring the shares (latter only as long as iWeb has the share class).

Keep an eye though out on whether the right fund/share it becomes though, as some providers get it wrong.

Also iweb doesn't know what price you purchased the funds/shares in from a in specie ISA transfer, but you can call them to update the book cost of them for seeing sane gain/loss after the transfer has completed (otherwise it will look as though the full transfer value was gain). It would be up to you to find the average purchase price you paid per share

Beddie

It's all here:

https://www.iweb-sharedealing.co.uk/our-accounts/transfer-your-existing-investments.html

Transferring an ISA or Share Dealing Account

How it works

• Simply sign in and complete our online transfer form.
• Once your transfer is complete you’ll be able to see your investments online straight away, we'll also send you a letter to let you know it’s done.
• You won't be charged to transfer in or out of IWeb.

jimjames

Yes you can transfer in-specie to iWeb, I've moved a couple of ISAs to them in the past. It was a slow process but it worked and was no additional cost

mears1

Thank you all.