Before deciding to transfer investments to an account with us, you should make sure that you understand the charges that apply to our accounts. Please see our overall charges for full charges information.
If you would like to transfer a share dealing account held with another broker to us, you’ll need to open a Bank of Scotland Share Dealing Account, Stocks & Shares ISA or SIPP.
We aim to complete all account transfers within 30 days however international stocks and funds can take 6 - 8 weeks to transfer.
Please note, we no longer accept transfers of trail-bearing (‘dirty’) funds.
After you've opened your share dealing account all you need to do is log in and complete our online transfer form, then just print it, sign and post it to the address on the transfer form and we will get in touch with your existing broker to start the transfer.
If you don’t have access to a printer we can post your transfer form to you, just click ‘please post my form to me’ once you’ve completed the form.
After you’ve opened your Bank of Scotland SIPP you’ll need to print, complete and post our SIPP transfer form to the address on the form.
You will be unable to trade any stocks being deposited into your account whilst the transfer is pending. We can only transfer holdings where there is no change in beneficial ownership i.e. the account name should match the name on the certificate. We also recommend that you send your certificate by recorded or special delivery as we accept no responsibility for the loss of any certificates.
It isn’t possible to directly transfer a certificate into your ISA unless it has come from an approved HMRC scheme/plan (see Transferring shares from an HMRC approved scheme/plan). To transfer the shares into your ISA, you can:
Please note, If you are selling stocks online you will not be able to transfer settled funds into your Bank of Scotland Stocks and Shares ISA for 2 working days. Selling online or over the phone may also trigger an event for Capital Gains Tax purposes.
Any trades you place online will cost £12.50 dealing commission per trade. Telephone commission will vary depending on the value of your trade as follows:
|Telephone trades||£25.00 per trade|
Under HM Revenue & Customs regulations it isn’t possible to directly transfer shares into an ISA unless they were purchased as part of an HMRC approved Save As You Earn (SAYE) option scheme or a Share Incentive Plan (SIP). These were formerly known as Approved Employee Share Ownership Plans.
If your shares have matured from an approved plan, you’ll need to send us a written request to directly transfer your shares into your Stocks and Shares ISA, along with proof that the shares have been exercised (or withdrawn from an SIP) in the last 90 days. This is known as a Letter of Appropriation and can be obtained from your share scheme administrator.
We would recommend that you send your request at least two weeks before the end of the 90 day period to give us time to carry out relevant checks.
Once you’ve filled in your form, please send it to:
Bank of Scotland Share Dealing
ISA Administration Department
Lovell Park Road
If you would like to transfer investments between two Bank of Scotland Share Dealing Accounts or to another Bank of Scotland Share Dealing customer, you can do this quickly and easily by completing an internal transfer form.
Simply download, print out and complete the form, sign it and return it to the address provided on the form. We will electronically transfer your investments to the account code you provide within 10 working days* of the day we receive your signed instruction.
*Transfers with a value of more than £100,000 may require additional checks.
Please note that you cannot directly transfer investments into or out of a Self-Select Stocks and Shares ISA or SIPP.
Please remember that the value of an investment and the income from it can go down as well as up and you may get back less than you invested.
We don't provide advice so if you are in any doubt about making your own investment decisions we recommend you seek advice from a suitably qualified financial adviser.