Help & FAQs

How can I close my Selftrade accounts?

Before we can close your account, we will require all cash and investments to be removed and the account balances to be zero. For non-SIPP customers, any cash can be transferred back to your nominated bank account via the 'Manage A/C' button once you log in to your account. Once all cash and investments have been removed from your account, you can request that it is closed either by secure message, contacting our Customer Experience Centre team or by completing our Account Closure form which is located within the 'Forms and Guides' page.

If you still have investments in your account, there are four options available to you:

  1. Certificate Holdings: This is where we provide you with a certificate which represents your holdings and removes our responsibility of custodian for those particular investments. This costs £20 per line of stock and will take 10-15 working days to process from the date we receive your request.

  2. Liquidate holdings and return funds to the nominated bank account: This is where we would sell your holdings in line with any instruction you have provided us with and return the realised balance to your nominated bank account. Please note that telephone commission will be applicable if you choose this option. The relevant commission will be applied depending on how you have instructed the sale request. See 'Our Fees' for further information.

  3. Transfer to another provider: You can transfer your cash and investments to another provider and close your account. We can only initiate a transfer upon request from your new broker. You will, therefore, need to contact your new broker and complete any documentation they require. Your new broker will then contact us and we will arrange the transfer accordingly. Please note that a charge of £15 per line of stock is applicable and will take 2-8 weeks to complete dependent on which assets are to be transferred.

  4. Gift shares to charity: If the investments are worth less than the commission charge, you can choose to donate your shares to the charity Sharegift. To instruct this, please confirm via telephone, secure message or letter what investments you wish to donate and we will process the transfer free of charge. If requesting by letter, please post this to:

    Selftrade
    PO BOX 4923
    Worthing
    BN99 6SF

Submitted on 21st Aug 2018

Did this answer your question?

Risk Warning

The value of investments can fall as well as rise and any income from them is not guaranteed and you may get back less than you invested. Past performance is not a guide to future performance.

Selftrade does not provide investment advice. If you are in any doubt as to the risk or suitability of an investment or product you should seek advice from an independent financial adviser.

The extent and value of any ISA tax advantages or benefits will vary according to the individual's circumstances. The levels and bases of taxation may also change.

The extent and value of any SIPP tax advantages or benefits will vary according to the individual's circumstances. The levels and bases of taxation may also change. If your options change regarding an employer's pension scheme you may wish to review your financial situation. Once in a pension your money is only accessible, in general, from age 55.

Read more [PDF 36.1KB]