Cash ISA - S&S ISA

20122013

masonic said:

That will just be based on their average including more complex stock transfers. When I previously did cash transfers into iWeb, it was more like 2 weeks.

Appreciate the reply, I will call iWeb again. Changing the topic, I was going to do 1 x global tracker and  1 x multi asset . Ended up doing 1 x global tracker and now I am using my cash ISA to fund my S&S ISA,  and want to diverse my portfolio and can only think of multi asset fund, as there something else maybe more appropriate? as also need to change my pension portfolio, too.

jimjames

20122013 said:

@ masonic

I have not used Iweb before but according to their agent it will take approximately 4+ weeks to transfer Cash ISA into their S&S ISA (hence I had mentioned the lost of interest)

My transfer to iWeb from another S&S ISA took around 2 weeks, I was very surprised at the speed so cash may be even quicker.

20122013

jimjames said:

My transfer to iWeb from another S&S ISA took around 2 weeks, I was very surprised at the speed so cash may be even quicker.

That's super.  With S&S ISA transactions fees - can the fee be paid with non ISA funds/ money outside the ISA wrapper?

wmb194

20122013 said:

jimjames said:

My transfer to iWeb from another S&S ISA took around 2 weeks, I was very surprised at the speed so cash may be even quicker.

That's super.  With S&S ISA transactions fees - can the fee be paid with non ISA funds/ money outside the ISA wrapper?

You mean the £5 commission to buy and sell within the ISA? No.

20122013

For my 2025/26 ISA allowance (new money) I want to earn as much interest as possible while I  decide on what S&S ISA funds to invest in and this can take me some months.  I think the processing time  for 'new money' is less than a  ISA transfer, hence I have not applied for a new account (Trading 212 has a back log of 7days to process a new applications)  I had looked into opening an Easy Access account, the ones with better rates will require full closure when transferring out.

 

Initially I was going to deposit the 'new money' into ii or iweb so the money is ready to invest,

but ii interest is around 2 % and a platform fee / pcm and Iweb pays no interest

I then looked into to Cash ISA (Money box or Tembo) the processing time (new money) takes up to 15 days and it will take 6 - 8 weeks

I would be interested to hear your thoughts/ how others may have 'parked' their money.

masonic

Well that's a new one on me, so be sure to do some research to ensure (a) that the firm is legitimate and (b) that you understand the capital risks involved with the interest offer (the assumption would be this is another QMMF arrangement).