Withdrawal not allowed

General
1

I asked to withdraw money from my ISA today and it told me there was an error and basically would not let me do it.

TBH when I want my money back, I expect a seamless experience, not issues like this. To get around it I have had to transfer my stock ISA to my cash ISA instead and hopefully once this is done, I will finally be able to withdraw my money to my bank.

It is issues like this that makes me lose faith in InvestEngine, along with the fact my portfolio is down significantly and that it will then take almost a week to get my cash in the bank. Why the errors? Why the hold up? Will my stock even be moved today? If not, why not?

Thanks :slight_smile:

2

Just to add to this, I read InvestEngine make interest on our cash in their investment deck. Is this what the hold up is? Getting a little more earnings out of our money?

3

Hi @wotta

Clients can withdraw cash at anytime, with no fees, and this is transferred to your nominated bank account via BACS payment. You will only have to sell part of your portfolio if you do not hold any cash in your account.

If you have problems, please email support@investengine.com and we will certainly be happy to help.

Hope you enjoy your weekend.

1 Like
4

@wotta all our clients monies and securities are held separately from InvestEngine.

This means you are 100% protected under FCA CASS regulations.

It also means, we do not hold your cash, our banking partner Natwest does. We do not hold your money in order to earn interest from it.

Feel free to get in touch if you have any questions : )

1 Like
5

Just wanted to say it is all sorted now. There was obviously some sort of error, but the team has been great and sorted my issue very quickly.

Thanks a lot :slight_smile: