An ‘in-specie’ transfer refers to a method of transferring an investment account to another provider. In-specie transfers involve moving your specific units in a tracker fund or ETF across to your new Stocks & Shares ISA,LISA, Junior ISA or GIA provider, rather than selling down your investments and moving the proceeds across as cash.
To start an in-specie transfer out from Moneybox, your new provider just needs to accept the funds or ETFs you’d like to transfer. They don’t need to accept all of your investments held with us. Any they can’t accept can usually be sold and transferred as cash, or left out of the transfer.
You can also opt for a ‘mixed’ transfer, which means we transfer some of your balance across in-specie and the rest as cash.
If you are investing in US stocks, please note we are unable to transfer these to your new provider in-specie and your holdings in any US stocks will need to be sold down and transferred as cash. Alternatively, they can remain in your Moneybox account
In-specie transfers typically take up to 6 weeks to complete.