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Why can’t I withdraw the full stocks and shares ISA

KrisP87

KrisP87 Posts: 14 Forumite

Fifth Anniversary

First Post

4 March at 7:25PM in ISAs & tax-free savings

Hi, I have over £6K in my Vanguard S&P500 account and was just curious on the process of withdrawing the amount but when I tried going through the process of withdrawing, it says I have £2,076 cash available to withdraw. Why can’t I withdraw the full amount if I wanted to? I could understand if there were potentially large pending payments but I only put in around £150 per month.

Thanks, K

0

Comments

eskbanker Posts: 41,010 Forumite

4 March at 7:27PM

If you're saying that you have over £6K invested in a S&P500 fund, and also have £2,076 in uninvested cash, then yes, I'd expect the platform to say that the latter figure is available for withdrawal - if you want more cash then you'd need to sell investments first?

1
Ayr_Rage Posts: 3,960 Forumite

4 March at 7:43PM

You'll need to sell your investments before they become available to withdraw.

2
dunstonh Posts: 121,383 Forumite

4 March at 8:54PM

https://forums.moneysavingexpert.com/discussion/6658014/why-can-t-i-withdraw-the-full-stocks-and-shares-isa

Easy one to answer.
You have £2076 cash available to draw.
The investments are not available to draw as they are invested. You need to sell them to cash before you can withdraw it.

I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.

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wiseonesomeofthetime Posts: 2,612 Forumite

8 March at 12:17PM

Why do people just keep posting the same as previous replies?
Just curious, as I see it on many threads. It's not even as if the timings are close in some cases.

0
t0rt0ise Posts: 4,675 Forumite

9 March at 10:43AM

https://forums.moneysavingexpert.com/discussion/comment/81914314#Comment_81914314

Because they don't read the thread. Just read the first post and hit reply.. presumably.

2
E_zroda Posts: 119 Forumite

10 March at 5:57PM

Maybe you start typing a response, get distracted midway through and by the time you hit 'Post Comment' there are already couple of speedy answers?

2

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