Withdrawals

How long does a withdrawal take?

Withdrawals will typically take up to 10 working days. This is because your money is invested in stock markets and we need to sell your investments first before we can send you your money. It might be quicker than 10 days, but we can’t promise.

Is there a minimum amount that I can withdraw?

Yes, the value of any withdrawal you make must be at least £1.00. 
You’ll need to close your Plan if you’d like to withdraw your full balance.

Do I need to have a balance in my Plan to keep it open?

Yes, to keep a Plan open it will need to have a balance of at least £1.00. 
You’ll need to close your Plan if you’d like to withdraw your full balance.

When I withdraw money from my Plan, will I get exactly what is shown on my dashboard?

The amount displayed on your dashboard is an indicative amount only.

Investment price fluctuations mean that the value of your investments may change between the time that you place your request and the time that we sell.  This means that you could get back less than what was showing in your Plan. 

If you request a partial withdrawal, we’ll sell as many of your investments required to get as close to the amount you request. 

What happens if you cannot sell my investments straight away?

In the rare event that we cannot sell down your investments straight away, we’ll send you what we can, with the rest to follow when the remaining sale(s) can be completed.

Can I withdraw from my ISA?

Yes, you can withdraw money from your Wealthify ISA in the same way as a general investment account but anything you withdraw will still count towards your £20,000 allowance and can’t be replaced.

For example: If you invested the full £20,000 limit into your ISA and then withdrew £1,000, you wouldn’t be able to pay money into your ISA until the beginning of the following tax year, because you would have already used up your allocated ISA allowance.

But, if you’ve only paid in £10,000 and withdrew £5,000, you’d still be able to pay in an additional £10,000 and make full use of your remaining ISA allowance.