Withdrawal Request and Account Closure

Full withdrawals and account closures (for GIA and ISA) can be instructed via the portal using the Withdrawals option in the All Account Options within the account

You should submit a withdrawal equal to the full value of the account as shown in the withdrawals screen.  We will then process a sell down/redemption of all holdings (where required) and process a full withdrawal.

All fees due up to the date of the withdrawals will be deducted from the withdrawals payment so the value paid.

The status of the account will be changed to "Intention to Close". 

Please note, we have a 98% tolerance in place so if a withdrawal is places on an account where the withdrawals requested is within 2% of the full account value, a full closure will always be actioned.

Payment will be made by Faster Payments to the nominated bank account once any sales have settled.   And indication of the payment date is shown at the time of making the withdrawal based upon the settlement periods of any holdings that are to be sold.

Any full withdrawal / account closure where the account value is under £100, a ticket will need to be raised to the operations team, so that they can action this manually.

As part of the account closure process (full withdrawals and transfers out) income withdrawals are added to accounts to ensure that any further balance obtained (distributions/interest) is paid out in the same manner