IG S&S ISA Bonus Rate Ending

Ch1ll1Phlakes

Anyone open a stocks & shares ISA with IG a few months back to avail of their 8.5% interest on uninvested cash. With rate due to drop (to I believe 4%) at start of September, I aim to transfer out to a different ISA I hold. Curious what others are thinking and if anyone has any experience with transfers out of IG. Thanks

RosieRooBear

Ch1ll1Phlakes said:

Anyone open a stocks & shares ISA with IG a few months back to avail of their 8.5% interest on uninvested cash. With rate due to drop (to I believe 4%) at start of September, I aim to transfer out to a different ISA I hold. Curious what others are thinking and if anyone has any experience with transfers out of IG. Thanks

@Ch1ll1Phlakes, Yes I did, & also put some funds into their GIA Account earning 8.5%. I withdrew £5000 on Monday and it was in my bank account by Tuesday midday, which was a nice surprise as I was expecting it to take longer. I’ll be emptying the GIA account but not transferring the ISA atm. As it’s a flexible ISA I’m going to withdraw it in stages over a few days and use to fund mine and my husband’s multitude of regular savers for the foreseeable. I’ll just continue to buy 1 Invesco FTSE All World every month so I don’t incur any charges and then pay back in before the end of the financial year and transfer then.

Ch1ll1Phlakes

RosieRooBear said:

Ch1ll1Phlakes said:

Anyone open a stocks & shares ISA with IG a few months back to avail of their 8.5% interest on uninvested cash. With rate due to drop (to I believe 4%) at start of September, I aim to transfer out to a different ISA I hold. Curious what others are thinking and if anyone has any experience with transfers out of IG. Thanks

@Ch1ll1Phlakes, Yes I did, & also put some funds into their GIA Account earning 8.5%. I withdrew £5000 on Monday and it was in my bank account by Tuesday midday, which was a nice surprise as I was expecting it to take longer. I’ll be emptying the GIA account but not transferring the ISA atm. As it’s a flexible ISA I’m going to withdraw it in stages over a few days and use to fund mine and my husband’s multitude of regular savers for the foreseeable. I’ll just continue to buy 1 Invesco FTSE All World every month so I don’t incur any charges and then pay back in before the end of the financial year and transfer then.

That sounds like a very reasonable plan. I imagine a few have been caught out of the custody fee requiring 3 transactions per calendar quarter when the promotion only require holding a stock, share or similar with the account. Not sure what to do with mine yet as I only used the ISA and don't just want to withdraw.

wmb194

Ch1ll1Phlakes said:

Anyone open a stocks & shares ISA with IG a few months back to avail of their 8.5% interest on uninvested cash. With rate due to drop (to I believe 4%) at start of September, I aim to transfer out to a different ISA I hold. Curious what others are thinking and if anyone has any experience with transfers out of IG. Thanks

I'm going to keep it for now and use it for investing. I like the platform as it's the first commission free broker I've used that offers 15 second quotes for LSE listed securities and it offers watchlists with real-time prices for free. It will still pay 4% on cash so that's not too bad.