What can I do to ensure a smooth transfer of my ISA Account to/from IBKR?

Depending on your ISA provider, IBKR may offer "In Species/Position Transfers" or "Cash only transfers". You will be able to see which transfer type we offer for your provider by logging into Client Portal and selecting Transfer & Pay then Transfer Existing ISA. After selecting your ISA provider, you will see the available transfer type.

The receiving ISA Provider initiates the contact with the ceding ISA Provider. Ensure you contact the receiving ISA Provider and provide your order to transfer your Account.

Transfer from your existing ISA Provider to your IBKR ISA Transfer from your IBKR ISA to your other ISA Provider
Action to take

You will need to submit a transfer instruction to us (go to Client Portal, Transfer & Pay, then Transfer Existing ISA), and if, in IBUKL’s discretion IBUKL decides to accept the transfer, IBUKL will instruct your existing ISA manager to transfer your investments (where IBUKL supports such investments) and/or cash into your IBUKL Stocks and Shares ISA.

Where IBUKL does not support all your investments held at your existing ISA Manager, you can either liquidate these investments yourself prior to submitting your transfer instruction to IBUKL via Client Portal (any cash proceeds of such liquidation will be transferred into your IBUKL Stocks and Shares ISA) or you can instruct IBUKL (as part of your transfer instruction via Client Portal) to do so on your behalf.

When you create the transfer request and your ISA Provider is eligible for "In species" transfer you will b asked to confirm:

You authorize IBKR to transfer eligible investments and ask your provider to sell your investments ineligible for the IBKR platform and transfer as cash

OR

You expect IBKR to further consult with you on the investments held at your current provider that are ineligible for the IBKR platform. Note that this might add delays to the transfer.

 

Finally, we would advise to contact your ceding ISA Provider to check if there is anything on their end they would require from you such as separate forms or online request.

A ISA account transfer to another ISA provider must be requested at the receiving ISA provider. Please contact the ISA provider you wish to have your account transferred and ask them to contact us via email at isa-transfer@interactivebrokers.com (for ISA provider communication only) sending us the client-signed transfer form for processing. Please note your ISA provider may have their own forms and procedures to follow. Please contact them for further information.

Once your ISA Provider has contacted us, IBKR may conduct a verification with you via Ticket in the Message Center of your account.

 
Timing

Execution strongly depends on how fast your ISA Provider respond on our transfer request and /or transfer your cash. Multiple communications may be required which can take a few business days. This is not unusual and market practice for this kind of transfer.

ISA transfer should take no longer than 15 working days for transfers between cash ISAs or 30 Calendar days for other ISA types of transfers. The time frame strongly depends as well on the delivering ISA provider.

Execution strongly depends on how fast your ISA Provider contact us to agree on the delivery. Multiple communications may be required which can take a view business days. This is not unusual and market practice for this kind of transfer.

ISA transfer should take no longer than 15 working days for transfers between cash ISAs or 30 Calendar days for other ISA types of transfers.

 

Find below detailed information on the process and relevant notes to consider for a successful transfer:

 

Your Account Information

ISA providers may reject transfer requests if the Name, Address (postal code), Date of Birth and NINO number on records are not identically. Please ensure you update your account information in case of any mismatch to avoid rejections.

In order for your ISA Transfer to be completed successfully, your ISA provider must validate the account number provided on the request. If the account number is invalid, your broker will reject the request.

 

Your ISA Account Number Format

IBKR recommend that clients review a copy of their brokerage statement to confirm their account number. We will provide below a list of some providers and their account format, however we urgent you please to confirm with your broker for accuracy and any questions.

Use the following link to get a overview of common ISA Providers and their account number format "Which account format do I have to use for my ISA transfer to avoid rejections of my transfer?"

 

What may cause my transfer to reject?

ISA transfer can reject due to:

  • Mismatch in account format entered.
  • Mismatch in account information on record (Name, Address (postal code), Date of Birth and NINO).
  • Your ISA provider requires additional information or documents from you.
  • Some ISA provider may require you to send documents via post to complete.
  • Change in valuations or clearing related reasons for rejections.

Please ensure that all information on record match with those at your current ISA provider. The account number has to be entered in the exact format seen on your account statements. We advise you to always check with your existing ISA provider for their transfer procedure and documents they may require from you to proceed.

 

I have been informed that certain securities could not be accepted. Why?

Clearing Issues

There is situations that may not allow the transfer of securities between financial institutions due to clearing issues.

Sometimes, financial institutions hold the same security at different depositories. To deliver securities held under different depositories, a so called cross border delivery is required.

Successful Cross Border delivery strongly depends on the involved depositories and are otherwise rejected if unable to accommodate.

 

IBKR will generally accept an inbound transfer of any security position which meet the following conditions:

  • The position is listed on an electronic exchange or marketplace offered by IBKR.
  • If the transfer includes a mutual fund, that fund is offered by IBKR .
  • Securities issues by Company (Stocks)
  • Bonds
  • Recognized UCITS
  • Depository Receipts, American Depository Receipts and American Depository Shares
  • The position is not subject to any settlement, transfer or trade limitations and/or any restrictions
  • The position is not classified as a U.S. Microcap security (See the Knowledge Base)

 

What is the Status of my ISA Transfer?

Please refer to the Transaction Status and History page of your account to track the progress of your transfer.

The progress bar will guide you trough each step of your transfer with relevant notes and highlight at which stage your transfer is at this time.


Depending on your ISA provider, you may either see the progress bar for "In Species/Position Transfers" or "Cash only transfers".

Inbound Transfer " In Species" (Securities + Cash)

Step

Status

Status Message

 Details

1

Transfer Requested Submitted

Your transfer request has been submitted and is currently being reviewed by IBKR.

 There is nothing for you to do at this time.

2

Transfer Under Review

Your transfer request is being reviewed by IBKR and we will reach out to your current financial institution.

 We are reviewing your transfer and there is nothing for you to do at this time.

3

Awaiting Contact from Current Financial Institution

IBKRhas contacted your current financial institution to initiate the transfer. If you haven't already, please request a transfer from your current financial institution.

Follow your financial institution's procedure to initiate a transfer. They may ask you to follow supplemental/alternate steps online or over the phone.

Unless your financial institution respond to us, the transfer will not make progress. If you have already requested a transfer from your current financial institution and several business days have elapsed without any progress here, you may want to reach out to them for updates on the progress of your transfer.

4

Awaiting Confirmation of Transfer

IBKR is coordinating with your current financial institution for the receipt of your transfer.

 There is nothing for you to do at this time. Depending on the complexity of your transfer, the process may take several business days to complete. If several business days have elapsed with no progress here, please reach out to your current financial institution for updates.

5

Securities Partially Received

IBKRhas successfully received some of the securities in your portfolio. We are working with your current financial institution to receive the remaining securities.

 There is nothing for you to do at this time. It is not uncommon for securities to transfer on different dates depending on the asset class and market they are held.

6

Transfer Complete

All eligible securities and/or cash have been received and applied to your account at IBKR.

N/A
Inbound Transfer " Cash Only"

Step

Status

Status Message

 Details

1

Transfer Requested Submitted

Your transfer request has been submitted and is currently being reviewed by IBKR.

Your request is pending IBKR review. Please upload the ISA Transfer Form.

2

Signed ISA Transfer Form Required

Before we can proceed with your transfer, you must upload a signed copy of the ISA Transfer Form.

The message for Next Steps will be only the 3 points below for this stage.

Click "View Form" to access and print the ISA Transfer.Upload a signed copy of the ISA Transfer here. Once we have the signed form, we will reach out to your current financial institution with the signed form.Follow your financial institution's procedure to initiate a transfer. They may also require you to follow supplemental/alternate steps online or over the phone.

 

3

Transfer Under Review

Signed ISA Transfer Form received and IBKR will reach out to your current financial institution.

We are reviewing your transfer and there is nothing for you to do at this time.Display "View Form" & "Re-Upload Form"

4

Awaiting Contact from Current Financial Institution

IBKR has sent the ISA Transfer Form and is waiting for your current financial institution to respond to us to initiate the transfer. If you haven't already, please request a transfer from your current financial institution.

Follow your financial institution's procedure to initiate a transfer. They may ask you to follow supplemental/alternate steps online or over the phone.

Unless your financial institution respond to us, the transfer will not make progress. If you have already requested a transfer from your current financial institution and several business days have elapsed without any progress here, you may want to reach out to them for updates on the progress of your transfer.

 

5

Awaiting Receipt of Cash

IBKR is coordinating with your current financial institution for the receipt of your transfer.

There is nothing for you to do at this time. Depending on the complexity of your transfer, the process may take several business days to complete. If several business days have elapsed with no progress here, please reach out to your current financial institution for updates.

6

Transfer Complete

Cash received and applied to your account at IBKR.

N/A

Note: Transfer of your IBKR ISA to your other ISA Provider will not show in the Transaction History of Client Portal. Status of your transfer should be provided by your existing ISA Provider.

 

I have been informed that certain securities could not be accepted. Why?

Clearing Issues

There is situations that may not allow the transfer of securities between financial institutions due to clearing issues.

Sometimes, financial institutions hold the same security at different depositories. To deliver securities held under different depositories, a so called cross border delivery is required.

Successful Cross Border delivery strongly depends on the involved depositories and are otherwise rejected if unable to accommodate.

 

IBKR will generally accept an inbound transfer of any security position wihich meet the following conditions:

  • The position is listed on an electronic exchange or marketplace offered by IBKR
  • If the transfer includes a mutual fund, that fund is offered by IBKR
  • Securities issues by Company (Stocks)
  • Bonds
  • Recognized UCITS
  • Depository Receipts, American Depository Receipts and American Depository Shares
  • The position is not subject to any settlement, transfer or trade limitations and/or any restrictions
  • The position is not classified as a U.S. Microcap security (See the Knowledge Base)