Yes. Settled cash can be transferred between Fund and Share Accounts online. Transfers between ISAs can be completed over the phone by calling us on 0117 980 9950 with your security details to hand. Please remember that once money is withdrawn from an HL ISA it cannot be reinstated and you will permanently lose this portion of your ISA allowance.
This short video will show you how you can move cash between two linked Fund and Share accounts, as well as from a HL Fund and Share account to an ISA.
Firstly, how to move cash between two linked Fund and Share accounts.
Instructions to move cash between accounts cannot be provided via email. It is however possible to transfer this money online once logged into your account. To do this:
Select to view the Fund and Share Account. (Video shows logged in portfolio summary page, the cursor selects ‘Fund and Share Account’)
Click on the 'Cash' tab.
To the right of the page, in the 'Manage cash on your account' box select the option to 'Transfer money'.
Select to transfer money to the recipient's Fund and Share Account. (Video shows a ‘select account’ screen which shows you the list of accounts available to transfer to. The cursor selects the ‘gift money’ button for Miss Smith’s Fund and Share Account. Video now shows you step 1 of 2 where you must enter how much you wish to send, the cursor selects next. Step 2 of 2 shows a summary of your transfer, the cursor selectors ‘Confirm transfer’)
Please be aware that this online cash movement can only be made between linked accounts and will not be possible if you have linked account with view-only access. Linked accounts can be set up and managed whilst logged in to your account by selecting the ‘Account Settings’ tab and then ‘Linked Accounts’. (Video shows logged in portfolio summary page, the cursor selects ‘Account settings’ tab, then ‘Linked accounts’.)
When the transfer is made, this will move into pending status. Whilst pending, you can invest the money in the account the transfer is going to, but you won’t be able to request another transfer or withdrawal until it is completed. (Video shows your transfers status within the Cash Tab, the mouse hovers over the word ‘pending')
Next up, how to move cash from a HL Fund and Share Account to an ISA.
Please note that you cannot transfer money to a linked accounts ISA, as they will need to agree to ISA declarations for the tax year. This can instead be done over the phone with both yourself and recipient present, or by sending a signed gifting instruction from yourself, along with an ISA application form signed and completed by the recipient.
You are however able to transfer cash held in your HL Fund and Share Account into your HL Stocks and Shares ISA or Lifetime ISA.
This instruction can't be provided via email as we need you to agree to the ISA declaration for the current tax year. However, you can transfer this money online once logged into your account. (Video shows portfolio summary page). To do this:
Select to view the Fund and Share Account.
Click on the 'Cash' tab.
To the right of the page, in the 'Manage cash on your account' box select the option to 'Transfer money'.
Select to transfer money to the HL Stocks and Shares ISA.
(The video shows these transfer steps. After selecting to transfer money to the HL Stocks and Shares ISA, the video now shows you step 1 of 2 where you must enter how much you wish to transfer, the cursor selects next. Step 2 of 2 shows a summary of your transfer, the cursor selectors ‘Confirm transfer’.)
You can also move this money into your Stocks and Shares ISA over the phone by calling our Telephone Applications team on 0117 980 9950. We're currently open 8am - 5pm Monday to Friday.
Typically, these transfers will complete within a couple of hours, but can take up to one working day. Transfers will not be completed on non-working days.
If you have placed recent trades, it typically takes 2 working days from when the share deal was placed for the cash to settle within your account before it can be withdrawn or moved to a different account. For funds it typically takes 4 days for the cash to settle within your account. You will therefore be unable to make the above cash movement until the settlement date.
Please remember that once money is withdrawn from an HL ISA it cannot be reinstated and you will permanently lose this portion of your ISA allowance.
Please also note that you will have no further claim on the monies once transferred.
Before investing the settled cash, please make sure you have read our Fund and Share Account declaration or ISA declaration, Terms and Conditions, Important Investor Notes and Key Features, and remember that investments can go up and down in value, so you could get back less than you put in.