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Yes, you can do an ISA transfer from your previous years' Investment ISAs, Innovative Finance ISAs, or Cash ISAs to another investment ISA provider at any time. Transfers don't impact your current year’s ISA allowance at all, so you can still invest this tax year’s full ISA limit as well as transfer existing ISAs over.
However, please ensure to use a transfer form. If you withdraw the money you pay in, you'll lose your tax-efficient benefits on that money. To arrange a transfer, simply create a Wealthify ISA Plan, then complete our simple ISA transfer form. We’ll arrange everything else.
If you’re an existing customer, simply head to your Dashboard and use the ‘transfer in’ button on your home screen. You can then choose whether you want to transfer your money into an existing Plan, or create a new one.
Yes, you can transfer your Wealthify Stocks and Shares ISA to either a Stocks and Shares ISA or a cash ISA with a different provider. If you want to transfer money you’ve invested in a Wealthify ISA in the current tax year, then you must transfer all of it, whereas previous years’ ISAs can be transferred in whole or in part. It’s worth checking with your new ISA provider for any restrictions or charges they may apply to transferring ISAs. Wealthify will never charge you for transferring ISAs in or out.
If you want to build an investment pot for your child that neither you or they can touch until your child turns 18, then a Junior ISA could be the answer. Any money paid into a Junior ISA belongs to the child and cannot be withdrawn by anyone other than the child when they turn 18.
Junior ISAs are available to children who:
You can transfer your Child Trust Fund over to a Wealthify Junior ISA, but your child cannot have a CTF and a Junior ISA at the same time. When transferring a CTF to a Junior ISA, the full balance must be transferred.
A child can have one Junior Cash ISA and one Junior Stocks & Shares ISA. The annual allowance can be split between accounts any way you like, but the total payments made into both must not exceed this amount in any given tax year.
The two Junior ISAs don’t have to be with the same provider, so you can choose the best option for you and your child. Wealthify does not currently offer a Junior Cash ISA, but we may do in the future, so watch this space.
If your child already has a Child Trust Fund in their name, it would need to be transferred to us in order to open a Junior ISA with Wealthify. You can transfer a Child Trust Fund into a Wealthify Junior Stocks and Shares ISA using the official transfer process.
Money added to a Junior ISA belongs to the child. The parent or guardian who opened the Junior ISA acts as the registered contact, but they can’t access the money once it has been deposited, unless there are exceptional circumstances. When the child turns 18, account ownership is transferred to them.
If you’d like to make regular, monthly payments to a Wealthify Junior ISA, you can set up a Direct Debit.
You can top up your child’s Junior ISA whenever you like by making a one-off Direct Debit or a bank transfer. For example, when your child receives money as a birthday or Christmas gift. Just sign in to your Wealthify account and visit your dashboard, then click on the ‘top up’ link next to your Junior ISA account.
No matter how the contribution is made, it MUST come from the bank account that was used to open your Wealthify account.
We don’t currently accept card payments.
Yes, you can easily transfer your child’s existing Junior ISA to Wealthify by completing our Junior ISA transfer request form. We’ll send you the transfer forms to complete and return to us, then we’ll contact your existing provider to arrange everything.
Please remember, if you’re transferring a Junior Cash ISA to Wealthify, it will become a Junior Stocks and Shares ISA. Your child’s money will be invested in global financial markets and the value of your investments can go down as well as up.
If you’re an existing customer, simply head to your Dashboard and use the ‘transfer in’ button on your home screen.
Yes, but you must transfer the whole balance of your Child’s Trust Fund (CTF) as you cannot have a CTF and a Junior ISA open at the same time.
When you transfer the full balance of a Child Trust Fund over to a Junior ISA, it doesn’t count towards your child’s current Junior ISA allowance, so you can transfer the whole CTF balance without it affecting their Junior ISA allowance for that same tax year.
You can find more information on our Child Trust Fund and Junior ISA Transfer page.
There's no direct transfer process available. If you want to move some money from your ISA to your child's Junior ISA you would need to withdraw your ISA funds, deposit them into your registered bank account and then pay it into your child’s Junior ISA.
As soon as the money is received in the Junior ISA, it will belong to the child and you will no longer have access to it, so bear this in mind if you’re thinking about transferring from your own personal ISA or savings account.
Child Trust Funds (CTFs) were long-term savings or investment accounts created for all children. Everyone born in the UK between 1st September 2002 and 2nd January 2011 got £50-£1,000 free from the Government to save in a CTF, so, if your child was born between these dates, they probably have one.
Junior ISAs replaced Child Trust Funds in 2011.
You can transfer Child Trust Funds to Wealthify, at which point they will become a Junior Stocks and Shares ISA.
You can find more information on Child Trust Funds on the government’s HMRC website.
Yes. We’ll be sad to see you go, obviously, but if you choose to transfer your Junior ISA to another provider you can by using their official Junior ISA transfer form.
For Junior Cash ISAs:
Transferring a Junior Cash ISA to a new provider typically takes up to 15 days.
For Junior Stocks and Shares ISAs:
When transferring a Junior Stocks and Shares ISA, or moving money between two different types of Junior ISA, you should expect the transfer to take a bit longer. But the provider should keep you informed during this process. If they don’t, get in touch with them.
For Child Trust Funds:
Transfers of a Child Trust Fund into a Junior ISA are typically completed in 30 days. (But remember that the Child Trust Fund account will then close as the scheme has been replaced by the Junior ISA scheme instead.)
It’s important to understand that the money within a Child Trust Fund belongs to the child, not the parent or legal guardian. The child will be entitled to the full amount from their 18th birthday.
Once you have the Child Trust Fund provider’s details, you can contact them directly to query about claiming and/or give them direction about how to best manage the money from there. (i.e. Transferring it to a Junior ISA account or holding it where it is.)
Yes, you can! And it’s relatively hassle-free – just let us know some details about your pension, including who your provider is, a reference number and estimated value – you can usually find these details on your latest pension statement.
It’s worth finding out if your existing provider charges exit fees, as these could limit the financial benefit of changing provider. We're unable to accept any pensions that you’re already taking an income from or transfer any pensions with defined benefits or guarantees.
If you’re an existing customer, simply head to your Dashboard and use the ‘transfer in’ button on your home screen.
You can transfer most types of pensions to Wealthify, apart from:
Please note we can only accept defined contribution plans that have no safeguarded benefits or guarantees.
Transferring your old pensions is easier than you might think – all we need to know is who your old providers are, reference numbers , an estimated value, and your permission to get in touch with your old providers regarding your pensions. You can usually find this information on your latest pension statement. We’ll do the rest and consolidate them into your Wealthify Pension.
If you’re an existing customer, simply head to your Dashboard and use the ‘transfer in’ button on your home screen.
Wealthify doesn’t offer a pension finding service. We need to know who your pensions are with and a reference number in order to transfer your pension to us. We’re not able to find your pension if you aren’t sure who it is with.
If you need help finding your pension, please visit the Pension Tracing Service which is a free, government-run service.
No, unfortunately, we’re not able to accept pensions that are already in payment or if you’ve already taken income from.
In the majority of cases, no. We can begin a pension transfer on your behalf without you needing to do anything. However, things happen, and if your old provider objects or needs further confirmation, then we’ll get in touch to let you know what’s needed.
We don’t charge you anything to transfer, but your old provider may charge exit fees or transfer fees, so you may want to check this with them before you go ahead.
This will depend on the type of pension transfer and who your previous providers were. In some cases, providers may require a physical signature, if so, we’ll send you a form to sign. However, most providers are happy with a digital signature, so there’s a chance that you may not need to physically sign anything.
Yes, of course! This process is even more simple than transferring in – head through to our sign up page to get started. If you have a pension with another provider it may be worth bringing them together, as you could save on fees and it may be easier to keep track of the performance of your retirement fund.
This can differ from provider to provider, but the majority of pension transfers take 30 days. The exceptions are if there are issues locating your pension, or if we have to manually transfer your pension, then it could take up to 12 weeks. If we do find that we need more details from you to process a transfer, our team will get in touch to let you know what’s needed.
In 2022, Lloyds Banking Group acquired the Embark Group. As a result, the ‘Embark Platform’ was rebranded to become the ‘Scottish Widows Platform’.
You may see Scottish Widows (Formerly Embark) named during the pension transfer process, as this is how the underlying system recognises the platform. Even though our name appears as Scottish Widows (Formerly Embark), please note that we are not part of the Scottish Widows group.
The Scottish Widows Platform will still be operated by Embark Investment Services Limited, as it’s a change of trading name and branding only — meaning there’s no change to the way your account is managed (and your terms and conditions have not been affected).
As many as you want – whether that’s one or twenty – there’s no limit on how many pensions you can transfer into Wealthify.
No, it is free to transfer your pension(s) into Wealthify. Your old provider may charge exit fees or transfer fees, so you may want to check this with them before you go ahead.
We’re afraid not. Because ISAs and GIAs aren't pension products, they're subject to different tax treatment and cannot be transferred.
You can pay into a Wealthify Cash ISA using regular and/or one-off payments. Regular payments can be made by setting up a standing order from your own bank. For standard one-off payments, you can use manual bank transfers; for quicker one-off payments, however, you also have the option to use Open Banking.
Customers can only pay in and out of their savings account from their nominated bank account.
This includes manual bank transfers or one-off payments. You're also able to set up standing orders from your nominated bank account to make regular payments into your Wealthify Instant Access Savings Account.
Anyone over the age of 18 living in England, Scotland, Wales or Northern Ireland can open any account with Wealthify. Residents of the Channel Islands can open a General Investment Account. Unfortunately, we are not able to accept U.S. Citizens due to the U.S. Government’s tax reporting rules. This includes anyone holding a U.S. passport or anyone who has an obligation to pay tax to the U.S. tax authorities.
You can only open a Stocks and Shares ISA if you’re a UK tax resident over the age of 18. If you are transferring an existing ISA opened in the same tax year, you will need to transfer the full amount to Wealthify.
For our pension, you’ll need to be over 18 and under 75 to open an account.
Our minimum account size depends on the products you are interested in.
Savings Accounts
You can open a Wealthify Instant Access Savings Account and Wealthify Cash ISA with just £1. You can top this up through instant bank transfer, one-off faster payments through open banking, and standing orders from your connected bank account.
Investment Plans
You can open a Wealthify ISA, Junior ISA and General Investment Account from just £1. You decide if you want to add to it with lump sums, regular Direct Debit payments, a combination of both or adding whatever you can afford. It’s all up to you! Our Pension is a little bit different. To open an account, you’ll need to add a minimum of £50, and any deposits you make also have a minimum payment amount of £50.
There’s no maximum account size, but, for some of our investment products, there is an annual limit.
For example, ISA Plans have an annual investment limit across all ISA types, which is currently £20,000. If you have a Cash ISA and Stocks and Shares ISA, you can split the limit across two, for example, £10,000 in your Cash ISA and £10,000 in the Stocks and Shares ISA. That said, there’s no limit on the amount you can transfer from both Cash and Stocks and Shares ISAs from previous tax years.
Junior ISAs also have an annual tax year limit which is lower than an adult ISA. Currently, the government has set it at £9,000.
Our Pension doesn’t necessarily have a limit, but you won’t receive tax relief if you exceed £60,000 or 100% of your salary in a tax year.
But, with our Instant Access Savings Account and General Investment Account, there are no restrictions on the amount that you can contribute each year.
If you wish to reopen your account again at any time, simply get in touch via Live Chat on the website, call 0800 802 1800, or send us a message.
You can fund all Wealthify Plans through bank transfer. If you'd like to fund your Plan by bank transfer, this is something you’ll need to set up directly with your bank. You can do this in branch, online, or by using telephone banking.
Unlike a Direct Debit (where we can collect the money from your bank account), you’ll need to arrange for the payment to be sent to us yourself.
When you select bank transfer, we'll provide you with the sort code, account number, and payment reference so that we can easily match your deposit to your Plan.
For our Instant Access Savings Account and Cash ISA customers, you can also use faster, one-off bank payments through open banking.
Yes, we’ve made it easy for you to do just that. You can add regular monthly payments to your Wealthify Plan by direct debit, or top-up at any time with a one-off direct debit or bank transfer.
Our annual management fee covers everything we do: our experts building and managing your Investment Plan; buying and selling on your behalf; rebalancing; and our Customer Care Team being on hand to solve issues or answer any questions.
In addition to this, we offer:
There are some other costs that may apply, which is normal for investments, but we do our best to keep these low. These costs, including fund charges, are taken directly by the fund provider and market spread – which is the difference between the price we buy and sell investments.
Please, see our fees page for the latest management fees and investment costs.
This depends on which product you have with us.