Do gilts settle on maturity day?

aroominyork

So, for TG24, will the funds be cleared in my ii.co.uk account on Monday 22 April?

shortseller09

Why don't you ask ii?

wmb194

aroominyork said:

So, for TG24, will the funds be cleared in my ii.co.uk account on Monday 22 April?

Yes, should do but as ever it'll depend on your broker.

GeoffTF

I had a bond mature on 31/01/22 and iWeb credited the proceeds on 03/02/22. It is much longer since I had a gilt mature, so I would have to look up paper statements for that, but I would not be surprised if there was a few days delay in getting to money.

wmb194

GeoffTF said:

I had a bond mature on 31/01/22 and iWeb credited the proceeds on 03/02/22. It is much longer since I had a gilt mature, so I would have to look up paper statements for that, but I would not be surprised if there was a few days delay in getting to money.

iWeb is consistently slow to credit interest and dividends so it wouldn't surprise me if it was slow to credit other things as well. I've not used ii but I suspect it'll depend on what its track record is usually like. With e.g., AJ Bell I've had bonds mature and the money available for withdrawal on the due date.

aroominyork

So, TN24 showed as a cash credit soon before 8.30am yesterday but was 'pending' until late afternoon/early evening, so I missed ii's 2pm cutoff for receiving the funds today. 

wmb194

aroominyork said:

So, TN24 showed as a cash credit soon before 8.30am yesterday but was 'pending' until late afternoon/early evening, so I missed ii's 2pm cutoff for receiving the funds today. 

Yeah, that’s an old broker trick. In my experience AJ Bell likes to do this as well.