When selling equities on a Share Dealing or ISA account, there is a ‘settlement period’ of 2 or 3 days before your funds become available to withdraw.
This time is used to exchange, clear and settle your trade and is a function of the underlying market we must follow.
Within the settlement period:
- You can reinvest your funds in a different stock on the same account
- You cannot transfer your funds to a different account or withdraw your funds
You can see the 2 or 3 day settlement period, known as T+2 or T+3, within the deal tickets ‘info’ section.
In this example, if you sell shares on Monday, the transaction would settle by Wednesday as it’s a T+2 settlement.
How do I know if my trade has settled?
You can see ‘unsettled credit’ in the dropdown menu on the desktop trading platform. Once the trade has settled, this value will read zero.
You will only see the funds available to withdraw or transfer in My IG under ‘live accounts’ or on the mobile app under ‘account’ once the trade has settled.
After the settlement period, you can request a withdrawal
- In your My IG dashboard on the desktop, select ‘live accounts’ and then ‘withdraw funds’
- On the mobile app under ‘account’, select ‘withdraw funds’.
After the settlement period, you can request a withdrawal. The following withdrawal times will apply:
- Card: typically between 2 to 5 bank working days
- Bank transfer: usually on the same day if requested before 12pm (UK time) on a working day, but can take up to 3 days to clear
- PayPal: usually immediate, and within 1 working day at most