While withdrawals are not yet automated (coming soon!), we can certainly assist you with creating a withdrawal!
Firstly, the account that we will transfer funds to will need to be set up on the system, (if it isn’t please set up the bank account where you’d like your funds transferred to). Please then give us a call at 0800 808 5653 or email us at support@wealthsimple.com. We'll verify this request and instruct the withdrawal.
Withdrawals can take up to 7 business days from the time the withdrawal is requested to the time the money arrives in your bank account. While we are doing all we can to make this faster, at the moment this is why it takes the time it does: we gather up instructions from the day to sell investments, the sale happens the day after the instruction is made (assuming no weekends or bank holidays), the trade happens and that then takes three days for the money to come back from the sale of the investment. Then, once the money is confirmed back in your investment account it can be paid over to your bank the next day.
If you withdraw funds from your ISA you will still be able to re-deposit them in the same tax year so long as you don't go over your annual £20,000 contribution limit.
