In-species ISA Transfer concerns

It is my understanding that invest engine will complete an in species transfer where possible. Indeed my investments with my other ISA are in ETFs offered on InvestEngine. I however have received a confirmation email saying “Your current provider will sell your existing investments and transfer the cash to your InvestEngine portfolio so it can be reinvested”. This is at odds with what I thought would happen and of concern as I do not want my existing investments to be sold and infact this was a main reason as to why I completed an ISA transfer with InvestEngine to get an in species transfer from Trading 212 to invest engine. Will it still be in species?

Further, shortly after completing the isa transfer form I separately added cash to my ISA and sent a buy order which is soon to be processed. Something surprising is that the isa transfer is no longer being presented on the app as taking place. I’d imagine this will be sorted once the buy order is completed but it seems like an oversight that I cannot see the progress of my ISA transfer at the same time as waiting for a buy order to complete and infact beyond the email I received there is no way for me to know if the ISA transfer is still taking place.

Hello @Chapmanstar1! Thank you for contacting us on the community. I’m so sorry that your transfer has to be completed in cash. In fact, any ETF offered in our InvestEngine ETF Range, can be transferred in-specie. However, for this to happen, the other provider, has to be a Tex member as well, so we could use the same channels to transfer the assets. Which in this case Trading 212 is not. I’m so sorry for any trouble caused, but I’m afraid we are not able to complete in-specie transfers from Trading 212 at the moment, as they are not a Tex member.
In what regards, not being able to see the ISA Transfer progress bar, my apologies for this trouble. Kindly contact us to support@investengine.com so e could look into it and help you, so this is shown again in your end.
Thank you for your message.

Trading 212 are in the list of Tex members on the tisa exchange website.

Tex members

They might not be fully signed up to everything. But looks like they are at least on the way, on the face of it.