Wouldn’t it be great if you could select a stock that offers DRIP. Then select a Cash or DRIP opposition for any individual Dividends. and add the holding to any ISA or Non ISA stock account ( within HMRC regulations) ,
I have a number of Non ISA individual company shares on an E- portal that are set up as DRIP investments, and it just reinvests any dividend back into the individual stock.. any surplus cash is held till the next dividend issue. it really is “Set and Forget”
I would like to move these investments to the 212 Platform under my ISA Stock Account to utilize the existing ISA TAX rules
The only way I can see is to set up a number of PIE’s within the ISA Account enter one stock and manually reinvest. not really time saving.
Maybe Trading 212 could look at providing this individual item DRIP functionality or the community could provide a simpler solution . How to select an individual investment and select to take Cash or automatically DRIP on dividends, preferable in an ISA account
I do understand the existing HMRC restrictions on moving Non ISA stock to ISA Stock and about the impact of existing CGT restrictions .
A single-stock pie with auto re-invest dividends set to ON would achieve DRIP, but you might hit the 50 pies per-account limit if you’ve got a lot of stocks.
As long as the dividend received was ÂŁ1 or more, it will be re-invested as it arrives into the pie.
Such pies can be created in a T212 Stocks & Shares ISA account.
The above sounds closest to what you’d like to achieve.
Combining multiple stocks into a single pie won’t be pure DRIP, but it would achieve something similar, and allow you to have >50 stocks, if that was necessary. You could chose to buddy up stocks that will overall receive dividends monthly, which would provide regular re-investment progress.
In that scenario, you’d have the choice of allocating re-investment by individual slice targets or auto-balance; I’m guessing the former will be better for emulating DRIP, though the latter might be worth considering to favour underweight stocks.
The minimum pie investment is (100 / the smallest percentage allocation of a slice)
Example: For a pie with 2x 20% allocations and 4x 15% allocations, the minimum re-investment is £6.67 (100/15); any dividends received below this are held in the pie’s cash allocation until the minimum is reached.
If the auto-reinvest dividends option set to NO for a pie, dividends received from that pie will be sent to the account’s cash balance.
Hope that’s useful.
If you have further questions, feel free to ask away.
I think I have found a solution that’s already available
How to set up a single stock DRIP Via WEB site and Laptop
Login to your account
Select your Stocks ISA Tab and then the PIE Icon on the top line
Select the slider on the left half of the screen and draw down to Investments section.
Select the + Create a Pie
Select Custom at the top and then select “ Add Instruments” button
Search for your preferred Instrument and select the Add to Pie button. Now select the Back arrow ( Top Left). Check that you selected Stock is on the bottom line and then select the Blue arrow ( Bottom Right) This will take you to a New Pie Screen. Use the slider ( Right hand side ) to check your stock is 100 % then select Next Button
You should now have Investing Option screen and need to select “ Manual” and the the Next button
you should now have the Initial deposit screen and the slider set to the left and an amount of ÂŁ 0 select the next button
This should give you a “ Personalize” simply enter a name for your Pie and next button
You should now be back at your Stock Isa home screen
Select the 3 Dots to the right of the PIE name and then select “Import investments”
This gives you an import investment screen, simply select your investment and then Next button
This gives you a screen with a slider to decide how much of the stock you want to put in the PIE. Then select “Confirm”
This takes you back to your Stocks ISA home page. Use the slider on the right of the screen to move down. Ensure the AutoInvest is set to Off unless you want to make additional automated contributions and the Dividends (AUTO REINVEST ) is set to on.
This may help someone DRIP more easily if you haven’t already taken mev202 advice and seen a medical practitioner