Your current provider will send cash payments to the InvestEngine SIPPs Trustee bank account, which is controlled by Quai, the InvestEngine pension scheme administrator. Once this payment has been reconciled it will be forwarded to us and we will apply it to the portfolio you selected during the transfer request process. It takes approximately 3 to 5 days from your current provider releasing the payment to it arriving into your portfolio.
When we and your current provider agree to transfer an ETF, you will see an expectation transaction on your selected portfolio. Once the transfer settles (typically two days after the trade date) you will be able to trade those shares.
We will send you an email to confirm receipts of cash and asset transfers.
If you have any additional questions, don’t hesitate to contact us by emailing support@investengine.com