Any news? This is taking too long.
The news is literally three posts up.
It was not the news that I wanted.
I can tell with that
I’m interested in transferring my ISA from a different platform but will only be willing to do so if I can transfer without liquidating. Can I open a new account and then request an inter-specie transfer once the beta becomes open again?
Is there any time frame as to when the beta will become available? If I can’t open a new trading 212 account and do an inter-specie transfer when will this be open to the public?
Lastly when you do the inter-specie transfer does the portfolio return calculate from the original purchase price or the price at which they’re transferred?
Hope to hear from the team soon!
You can create both an ISA and an Invest account.
Regarding the in-specie transfers, I cannot provide a timeframe of when they will be open to the public. However, I’ll let you know once the beta testing is back, and I’ll provide more details about the calculations.
I can easily understand why the isa inspecie transfer is paused, because IBKR haven’t implement it yet they moved their target from q2 to q3 to q4 now and probably they will move it again, moving shares in tax free accounts is complicated i guess. But what i don’t understand is why not offer inspecie transfers for invest accounts IBKR does offer that so it shouldn’t be a problem to move to/from 212 i simply don’t understand it
I´m waiting for the feature to transfer full shares in to and from t212 for about a year and I don’t understand the problem.
If I want to transfer CFD positions or fractional shares it will be obvious why it would be a problem but I’m struggling why it is a problem with complete shares …
Hello can you please provide an update on this feature as it has been going on for some time now.
No update seems to be the update - beta testing is not back.
IBKR having issues with their transfers, they’ve put it back twice. I’d suggest that’s the likely culprit.
Any word on Invest in-species transfers?
If beta testing is taking this long for ISA, when are you planning for Invest, outbound?
It’d be hard to project a precise ETA at this point, but I’ll make sure to let you know once I have more info
Hi I have seen references made that as Interactive Brokers do not support or are having trouble with transferring products in and out from other platforms and this then is a problem for T212. However It confirms on Interactives website that they support this. I also have just spoke to a person at Interactive Brokers and they clearly told me that position transfer is supported. In this case why is Trading 212 not supporting this feature and if they are trying to impliment it why is it taking so long?
It’s ISA accounts first up Raj. IBKR do not support this.
They do support it in their general accounts, what is the difference between that and supporting it in an ISA? Or am i missing something.
Basic FOP (Free of Payment) is a method to transfer assets from financial institutions that are generally outside the US. IBKR will coordinate with your Canadian, European, Middle East/African, Asia/Pacific financial institution to transfer global equities, fixed income, structured products, and options on a free-of-payment basis. You will need to instruct your broker separately in order for them to match our settlement instructions.
Timing can vary widely from a few business days to several weeks depending on the complexity of the transfer and coordination with your financial institution
IBKR does not charge a fee
Step 1: Use your IBKR login to enter a receipt instruction and provide IBKR with your account information from the delivering institution.
Step 2: Instruct your current broker. On the IBKR transfer confirmation page, a Customer Account Transfer - Letter of Authorization will be provided. Print, sign and send the letter to your broker or follow whatever guidelines they require for the instruction.
Thanks for looking !
We don’t know is the answer.
An ISA is a tax efficient wrapper, so perhaps there is some mechanical difference we are not aware of to ensure no tax is applied
Either way, this is a service we have never had, on a low cost broker, but is in flight as per above, so we just need to exercise some patience. It’s not as if we have lost any service coverage from when we signed up.
Lack of inspecie transfers was one reason I didn’t open my ISA up here in 2021/2022, but I’m happy that it is in flight.
I appreciate that. I will just be honest im not comfortable adding any more to my T212 GIA account until they have the option of in-specie (in and out) transfer.
From what i can see Interactive do support it in their GIA accounts, just not the ISA? That actually was what i was trying to elude to in my earlier posts but maybe not being clear enough.