Late December 2024 I requested, via IE, a transfer of my Vanguard S&S ISA to IE. The LifeStrategy component was sold by Vg as cash in January 2025as obviously IE don’t offer LifeStrategy funds. The ETFs meanwhile have only just been transferred to my IE DIY self-managed ISA, however the cash remains in Vg and shows up in their ‘Overview’ of the ISA value.
The transfer is showing in IE at the ‘Completion’ stage.
Should I just wait until the transfer is complete before worrying about the cash held in Vg? If the cash is not transferred, do I have to initiate a new ISA transfer as my understanding is that you can’t simply withdraw cash like a savings account as it has tax implications?
Mine followed about a week later - I queried Vanguard as to why they kept sending me ‘we’ve started your transfer request’, the reply was something about an automatically generated message incorrectly being sent at every development state.
When it does transfer over, make sure you send them a secure message to get the account closed properly, to avoid the fees, especially as there will likely be some pennies left from interest that they don’t send over!
@kyotoguardian Thanks for this. Hopefully the cash will follow shortly. There shouldn’t be any fees for holding cash—the literature I’ve seen on the Vg website says the fees are for investments. That said, I wouldn’t be surprised if there are!