Transfers

If you have accounts with other providers you can transfer them to Bestinvest.

If you're signing up to Bestinvest for the first time, you can initiate a transfer as part of the process. You can start a transfer as a new client here.

Alternatively, you can initiate a transfer once you've signed up and logged into your account online.

Start a transfer from your account online

• Select the 'Profile' icon and choose 'Transfer an account' from the main menu
• Select the type of account you want to transfer (ISA, SIPP etc)
• Enter some details about your current provider
• Submit the request and we will work with your provider on moving the account across

If your current provider supports electronic transfers, there will be no paperwork for you to complete. If not we will send you the relevant forms to complete, sign and return to us.

You will receive updates via email at key milestones throughout the transfer process. If there is any information we require from you to progress the transfer, we will reach out to you.

If you would like a more detailed update please get in contact with a member of the team.

Send us a message

Transferring a Stocks & Shares ISA or Investment account

• Typically 4-6 weeks (maximum 8 weeks)

Transferring a personal pension (SIPP)

• Typically 8-12 weeks

Shares purchased through a Save As You Earn (SAYE) scheme can be transferred into General Investment accounts and ISAs.

Contact a member of our team and we can provide the information to submit to your share providers to initiate this.

If it is going into an ISA we would also require a Letter of Appropriation from the share provider.

We’ve been working hard to make Bestinvest a great place to invest and plan your future – and we’d love you to stay a part of it.

However, if you are thinking of leaving Bestinvest and transferring to a new provider, you can find a bit more about the process on our 'Transferring to another provider' page. There is a short survey form on the page and we would be grateful for any feedback you can provide on why you are looking to transfer your account.

Although you can’t directly buy or sell share certificates through us, you can transfer them into your Investment account and hold the shares electronically. This would let you see how many shares you hold and what they’re worth. You’ll also be able to sell your shares online quickly and easily.

Keep in mind

Shares held electronically will no longer be held directly in your name – and your details won’t appear on the company’s shareholder register. You still remain the beneficial owner, but you should check how this might affect any income, shareholder perks, and any other benefits.

How to transfer in share certificates

• First, you will need to open an Investment account to transfer the shares into
• You will need to complete a Certificateless Registry for Electronic Share (CREST) transfer form for your share certificate
• Please ensure the certificate is registered in your name at the registrar and that your name and address match otherwise it may be rejected

Download CREST transfer form

Good to know

• You will need to complete a CREST transfer form for each company
• If you have more than one share certificate for a company, you will need to ensure you have a CREST transfer form for each account number on the share certificates
• If there is only one account number, you can total all shares for one company on the same CREST transfer form

Please send you CREST Transfer Form(s) & Share Certificates to:

Transfers In - Bestinvest

Evelyn Partners

177 Bothwell Street

Glasgow

G2 7ER

• Cash ISAs (to our Stocks and Shares ISA)
• Junior ISAs
• Stocks and Shares ISAs (full or partial transfers)
• Investment accounts (full or partial transfers)

What happens to my investments in the transfer process?

• If you are transferring as stock/funds we will move the existing investments across to your new account
• If you are transferring as cash any stocks/funds in your existing account will be sold and the cash proceeds transferred to your new account
• If you hold a cash ISA this will be transferred over to your new ISA as cash

What you'll need to apply

• Name and account number of your current provider
• Details about your existing investments such as the approximate value of the transfer, whether you are transferring cash or stocks and shares, full or partial transfer.

How to start a transfer

1. Start your transfer online

Log in online to your Bestinvest account first and select 'Transfer an account'. Tell us a few details about your current provider and investments you're looking to transfer to us.

2. We contact your provider

If your investments can be transferred electronically, you usually do not have to do anything else. We'll contact you if we need further information.

In some instances, a provider will need signed paperwork before transferring. If that's the case, we'll provide the relevant forms to complete and send back to us.

3. We let you know when it is complete

You'll receive an email from us when the transfer is complete.

Postal address

If you need to send us any paperwork, the address is:

Online Investment Service, Bestinvest, Second Floor, Liver Building, Pier Head, Liverpool, L3 1NY

This is not an exhaustive list but before you consider transferring a pension, you should consider the following:

• Will I lose any valuable benefits or features from my existing pension plan?
• Will I incur any penalties on my existing pension if I transfer?
• Is it an occupational final salary pension scheme? (In which case it is very unlikely to be advisable to transfer).
• Have I considered the charges on my current plan? (A new arrangement may be more expensive – especially if you have a stakeholder pension). 
• Have I checked the investment options available and whether I need the wider choice offered by a SIPP?
• If the pension is an employer-related plan, have I checked if the employer will cease to pay in benefits if it is transferred elsewhere?

For more detail on this topic, see here.

Before you start

You should be aware of the implications of transferring your pension. Make sure you have checked the pension transfer considerations.

Types of pensions you can transfer to us include:

• Stakeholder pensions
• Personal pension plans
• Existing SIPPs

Example providers we have transferred from include:

• Interactive Investor
• Hargreaves Lansdown
• AJ Bell
• Standard Life
• Aviva
• Scottish Widows
• Nest
• Legal & General
• Aegon

Before you start

• The decisions you make relating to transferring a pension scheme are important and could have a significant impact on your future retirement benefits. If you are unsure as to whether transferring a pension is suitable for you, please seek professional financial advice. You can also read our guide on what to consider before transferring a pension
• You can transfer most pension schemes to the Best SIPP, although if you are transferring a pension related to ‘Safeguarded Benefits’ you must receive a positive recommendation from an FCA authorised financial adviser to allow the transfer of those benefits.
• If you are transferring your existing pension as cash we will not automatically invest cash received as part of the transfer. You should choose your new investments once the cash has been paid into your SIPP account
• You need to complete a pension transfer form for each pension scheme you wish to transfer from

What you'll need to know

• Type of pension
• Value of transfer
• Transferring as stock or in cash
• Name of current pension provider
• Name of pension scheme/arrangement
• Name and address of scheme administrator
• Plan/scheme reference number

How to transfer a pension

If you're new to Bestinvest:

• You will need to open your SIPP account first which you can do online. The process can take less than 10 minutes.
• Once you've opened your account you will need to complete and return the Pension transfer form which you can download below.

New to Bestinvest? Start your online application here.

If you are an existing Bestinvest client and don't have a SIPP account yet:

1. Log in to your account online
2. Select 'Open an account' and choose 'Personal pension (SIPP)'
3. Then complete and return the Pension transfer form

If you are an existing Bestinvest client and have a SIPP account already:

1. You just need to complete and return the Pension transfer form

Pension transfer form

Download Pension transfer form & sign by hand

Download Pension transfer form & sign electronically

What happens after I have requested to transfer my pension?

• Once we've received the completed Pension transfer form, we will contact your current provider on your behalf and start the transfer.
• If we need any information from you to progress the transfer, we will get in touch with you.

It typically takes 8-12 weeks depending on your provider and the assets you hold.

No. It is free to transfer pensions to Bestinvest. One of the many benefits of consolidating your pensions in the Best SIPP is that we will also pay up to £500 for any exit fees applied by your existing providers (subject to terms and conditions).

We will accept the transfer in of some occupational schemes, but they should be checked carefully before transferring to make sure that you will not lose any valuable benefits. If your occupational pension scheme is worth more than £30,000 it may be a legal requirement that you receive financial advice before a transfer can take place. At Bestinvest we say it’s always a good idea to seek financial advice before transferring any type of pension scheme because you might be giving up benefits which may not be safeguarded such as scheme specific tax free cash.

Because of their valuable benefits, it is generally not advisable to transfer benefits built up in a defined benefit pension. We will not accept these pension transfers on an execution-only basis.