I suspect this question (or similar) has been asked many times, but I canāt seem to find an answer via my search.
The question is in the title. How soon after I sell stocks in My ISA, until the cash is available?
I have a friend whoās thinking of migrating away from one of the other S&S ISA providers to T212, as he has to wait various and inconsistent amounts of time until his funds are available to trade with again.
Heās getting very frustrated with that scenario, so I told him Iām pretty sure that as far as I can tell, T212 has funds immediately available after a sell. I didnāt want to give him incorrect info though, so I thought Iād ask here.
Once the shares are sold, then the funds will immediately be added to the free funds section of your account.
If the orders are not filled right away, this can either be due to the instrumentās liquidity or the exchange on which the stock is traded (LSE AIM & OTC Markets).
It might depend what theyāre trading on the āother brokerā.
I think the US settles T+1 nowadays, most of Europe T+2 and most other places T+3.
If you are buying/selling within the same market then when you sell the finds should be available straight away to spend.
I think some other brokers wait for trades to settle before you can withdraw cash.
Iāve not seen 212 do this for withdrawals as most of mine have been same day, but itās probably worth considering above is how things normally work. You canāt pay someone money you donāt have.