*partial* S&S ISA transfer from SWSD (iWeb) to Freetrade?

TheTelltaleChart

I don't usually bother with cashbacks (SFX: horrified gasps), but I'm tempted by Freetrade's offer of 1% (max £5,000) on ISA transfers/subscriptions. (Though not by their similar offer for SIPPs, for various reasons.)

I note there are some issues with ambiguous/modified terms around lockin/clawback times/calculation, but could probably live with the worst case anyway.

Q1: Am I correct that both SW and FT would support a partial ISA transfer, leaving behind with SW whatever holdings FT don't support?

Q2: Is it possible to instruct FT to transfer in a specific list of holdings, leaving behind with SW any not on the list, even if FT would support them?

Anything other potential hiccups I might be overlooking?

friolento

I have done a partial transfer out of a SW ISA, though not to Freetrade. I transferred complete holdings (in specie), leaving behind some other holdings so my SW ISA is still live, and ready to take an xfer back at some stage soon.

I'd be surprised if Freetrade didn't accept partial transfers in but you'd have to confirm it with them.

As to hiccups: some S&S transfers can take a long time. Mine took 3 months - not sure who/what caused the delays - though initially there was some confusion about the SW ISA account number (which isn't the same as your overall SW account number), so this might have added a couple of weeks. The other possibility is that there are currently lots of transfer requests because of the bonus offers. Your eligibility for the Freetrade bonus is limited by a fixed date (5 April 2026 at 11:59 PM) by which the transfer must have been completed. You might already be cutting it quite fine if you request the transfer today - the usually quoted time for an S&S transfer is up to 30 days. If you do an in-specie transfer, you won't lose money but you might not get the bonus. Good luck, in any case

granta

I have done several partial in specie transfers into Freetrade from different providers. You can specify the exact number of units to transfer. I've not experienced any delays recently.

TheTelltaleChart

Your eligibility for the Freetrade bonus is limited by a fixed date (5 April 2026 at 11:59 PM) by which the transfer must have been completed.

It clearly says initiated by that time, not completed (unless I'm confused).

A slow transfer would not be a big issue unless it failed to complete by 4 December 2026, when they'll be calculating the bonuses.

I've not gone off the idea yet.

One thing I don't like about FT is that their terms say that you won't get any choice about what to do in corporate actions; instead, they will decide what to do for everybody. In practice, presumably that means you won't get the chance to buy more share in a rights issue or open offer, or to tender your shares in a tender offer. This is more of an issue for individual shares and investment trusts, not so much for funds and ETFs. Am I interpreting their terms correctly here?

TheTelltaleChart

the SW ISA account number (which isn't the same as your overall SW account number)

Hang on: where do I find the SW ISA account number? I only know about an overall account number, and a personal reference.

friolento

https://forums.moneysavingexpert.com/discussion/comment/81899428#Comment_81899428

You might be right, they might count all transfers in up to 4 December 2026 11:59 PM

friolento

https://forums.moneysavingexpert.com/discussion/comment/81899443#Comment_81899443

In your SW S&S ISA, you have a Personal Reference and an Account Code

You need to use the Account Code in your transfer request.

drob4

https://forums.moneysavingexpert.com/discussion/comment/81899699#Comment_81899699

From the Freetrade site:

To take part in this campaign, you need to initiate your transfer before 5 April 2026 at 11:59 PM.

This means you need to fill in the relevant transfer form by this date.

If your transfer is delayed for reasons outside of your control, we’ll still honour the offer and award you your cashback.

TheTelltaleChart

https://forums.moneysavingexpert.com/discussion/comment/81899699#Comment_81899699

That FAQ by itself would support your reading.

But the first FAQ, "How does this promotion work?" says (in 2.): "Transfers must be initiated by 5 April 2026 in order to qualify, although they may be completed at a later date."

And the later FAQ, "What happens if my transfer is delayed?" says: "To take part in this campaign, you need to initiate your transfer before 5 April 2026 at 11:59 PM."

And all the above is just informal FAQs; presumably the formal terms headed "2026 ISA and SIPP Transfer and Top-up Campaign Terms and Conditions" carry more weight.

The formal terms are unambiguous on this point, defining (in 9.) "Transfer Value” in terms of "the total value of all Qualifying Transfer(s)"; and defining (in 6.) a “Qualifying Transfer” as including "(a) transfers of cash and/or investments … which are initiated by you during the Validity Period".

TheTelltaleChart

https://forums.moneysavingexpert.com/discussion/comment/81899705#Comment_81899705

OK.

I was going to say the Account Code is the same for my ISA and my trading account. But actually, I see the contract notes for the ISA say (with digits changed to 'N's):

Account Code NNNNNNNNN Stocks and Shares ISA

but for the trading account, they say:

Account Code NNNNNNNNN

roose0

https://forums.moneysavingexpert.com/discussion/comment/81899746#Comment_81899746

Yes, the same code! Just use that 9-digit account code.