Transferring stocks between T212 accounts?

With the news that, from next April we can open more than one of the same ISA in the same year (so long as we don’t exceed 20k), I was wondering if it is possible for me to transfer the stocks I have in my T212 general investment account and into a newly opened S&S ISA account here.

I already have a S&S ISA on Vanguard, which is why I chose a GI account here, but it would obviously be better for me to have another S&S ISA here if possible.

Only cash can be added to an ISA, so you would not be able to transfer in shares from a GIA. You sell them first, then rebuy in the ISA.

1 Like

Hello, @Manna :wave:

@Richard.W is right - for the time being, we only offer the ability to transfer funds between your accounts with us. When it comes to moving shares from one brokerage to another, in-specie transfers is a feature that we’re already working on. You can follow our progress in this topic :pray:

1 Like

Ok, thanks both. Hopefully the feature will become available soon. I’d imagine there will be a few like me that currently have GI accounts that would now like to have ISAs here, wthout the headache of closing and opening positions on the same stocks.

@Manna I think you may not have yet understood. The ISA regulations do not allow shares to be moved from a GIA to ISA account in the way you are wishing to do.

It is required that the shares be sold in the GIA first and any capital gains tax paid. Only cash can be moved into an ISA account. This is not something that Trading 212 has any power to change.

Some brokers offer something called “bed and ISA” whereby they complete the sale and repurchase for the cost of a single commission rather than two. But as Trading 212 has no commission fee this is moot on their platform. Trading 212 also makes your funds from a sale immediately available to you for moving into the ISA, whereas on some platforms you would have to wait two days for settlement.

2 Likes