How soon after I sell in My ISA, until the cash is available?

Hi All,

I suspect this question (or similar) has been asked many times, but I canā€™t 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 whoā€™s 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.

Heā€™s getting very frustrated with that scenario, so I told him Iā€™m pretty sure that as far as I can tell, T212 has funds immediately available after a sell. I didnā€™t want to give him incorrect info though, so I thought Iā€™d ask here.

Thanks to anyone who can help with an answer.

Regards.

CT

Hello, @Clearwell_T :wave:

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 instrumentā€™s liquidity or the exchange on which the stock is traded (LSE AIM & OTC Markets).

Hey Veselin,

Great thanks.

So basically, as long as the order fills. the funds are available instantly. Thatā€™s what my friend needs to know.

I shall pass along the info.

Thanks again for your help.

Regards.

CT

Exactly. As soon as your shares are sold, the funds are immediately available to do what you wish.

To ensure speed of geting in and out of an asset ensure thereā€™s enough liquidity/volume/people buying & selling that asset.

It might depend what theyā€™re trading on the ā€˜other 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.

Iā€™ve not seen 212 do this for withdrawals as most of mine have been same day, but itā€™s probably worth considering above is how things normally work. You canā€™t pay someone money you donā€™t have.

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