Dividends Automatically Transferred To Bank Account

As soon as dividends are paid out, there should be an option to enable that would automatically withdraw them as free funds in the account and send them directly to your linked bank account. This would be helpful for those who are building passive income as it would then be truly passive and not require manual withdrawal.

6 Likes

You’ll need twenty years of reinvented dividends before you’d want to consider this. Otherwise you’re just stifling growth.

5 Likes

All hail the duck! :beer:

5 Likes

Only if you’re not starting with much. One could have an investable sum large enough that would provide a sufficient amount in dividends without having waiting the 20 years you mention.

If using an ISA, then yes the £20k limit will men’s you’re correct but I was referring to both Invest and ISA accounts

1 Like

I agree. A ÂŁ100K ISA, for example, paying regular dividends (or income via a fund) would be yielding a decent income - this should most definitely be an option - it is in most other platforms. This would be hugely beneficial to those living off of the natural yield of their investments.

1 Like

I feel like making one withdrawal a month when it’s your monthly income isn’t much a of bother :person_shrugging:

2 Likes

Do we have this feature yet in T212?

I have my ISA income portfolio stuck in iWeb which appears to be one of the few platforms where I can set it up to automatically pay out any income distributions to my bank account. I would like to transfer the portfolio to my T212 account.

I know it’s not a lot of effort to go in and withdraw cash when income comes in but I like to be completely hands off, or else I end up worrying about portfolio movements, tinkering, making bad decisions, etc.

I’m sorry to disappoint you, but that feature is not currently among the ones we have. I’ll update the thread if there’s any news about implementing such an option.

3 Likes

How is this still not a feature, even if you could just set the amount you wish to withdrawal each month ?

1 Like

Because almost no-one wanted it.

I have no need for it. Withdraw it once a month manually is more then enough. How lazy do you have you have to be.

Do you work for them by chance or do you have portfolio that’s not large enough to require something like this?

Neither of those are correct. It’s easy to deduce though, there’s 12 posts on this thread in four years a couple of them me, but also another that doesn’t. Almost no-one wants it.

A few thousand views and 18 likes… I would propose it does. Just because you have no need for it doesn’t mean others don’t. I can imagine 90% of T212 customers don’t actually use the forum

Using your logic that means a quarter of a million or so do. And 12 people felt compelled to click like.

If you want to be pedantic 18 people…

I’ll make it 19 for you - hopefully we can tip the scales!

1 Like

Well I will +1 for this.
I will make good use of this automatic dividend bank transfer.

It is not about you, Mr Selfish Self-centrered person. Do think about other folk instead, can you? What do us who are nearing the dementia years meant to do?

For the record, Hargreaves Lansdown offer this feature.