Unable to withdraw from Vanguard

[clarky92]

I have a Vanguard S&S ISA. Completely unforseen personal issues mean I need to withdraw my money. I put in a sell order last week for the full amount.

Logged into the platform this morning to see my money is now 'available cash'.

Went to Payments > Money Out, but all I can see is 'Available cash in my ISA: £0.00' even though in the main overview page, I can see my money as available cash.

Any ideas? Its not a large amount, sub £5k if that makes any difference.

[Starjet99]

Have you sent them a secure message, or picked up the phone? Probably easier to resolve directly rather than wait for guesswork from t'internet people.

[LeoSayer]

Fund sales take a few days to settle. Have a look at your pending transaction it should give you a date when the funds will be available.

[clarky92]

Starjet99 said:

Have you sent them a secure message, or picked up the phone? Probably easier to resolve directly rather than wait for guesswork from t'internet people.

Just wanted to ask if there was a 'quirk' or anything easy I'm missing, people on here tend to know a lot about these platforms. Worth asking quickly before sitting on the phone for god knows how long

[Starjet99]

clarky92 said:

Just wanted to ask if there was a 'quirk' or anything easy I'm missing, people on here tend to know a lot about these platforms. Worth asking quickly before sitting on the phone for god knows how long

I use Vanguard, and am unaware of any quirks aside from the above poster's comments re settlements. I've only had to phone them once, but found them really quick and helpful

[chip*]

What day of "last week" did you submit your instruction?
My guess is the trade hasn't settled yet i.e. you submit your trade last Wed / Thur?

[Mr Pointy]

It doen't help you but I see the cash in the 'Withdraw Cash' section. Maybe the system is catching up but your best bet is sending a secure message, although it's not a very quick response in my experieence.

[dmahon]

Vanguard UK have had great customer service over the last few years, but they are pretty pants post Corona.

They are often taking an hour to pick up the phone and a week to answer secure messages.

I have had inbound payments go missing, extremely slow transfers in and strange timelines with buys and sells like the OP.

Concerning as I've been in a 3 month process of consolidating with them,, which I am now starting to deeply regret.

[CharlesElliott]

As you have sold out of the ISA wrapper, your cash is not held in the ISA and so I wouldn't expect it to appear in ISA cash but in a 'cash' or 'cash account' section somewhere.

[alistair1234]

If it's anything like HL it will take a few days to settle, so although you can see the cash and can invest it in other stocks you'll probably need to wait another day or so until it's available to withdraw.

[clarky92]

Thanks for the info everyone

I put the sell order in late Thursday evening, and it completed at 09:22 this morning.

Bit more digging around on the website and as others have posted, seems you need to wait for a couple of days for the funds to 'settle' before withdrawing

https://www.vanguardinvestor.co.uk/need-help/answe...

[Mr Pointy]

CharlesElliott said:

As you have sold out of the ISA wrapper, your cash is not held in the ISA and so I wouldn't expect it to appear in ISA cash but in a 'cash' or 'cash account' section somewhere.

You don't have a Vanguard account do you? The cash stays in the ISA, it's shown om a separate line.

Just because a fund or stock is sold doesn't mean the proceeds dosn't stay in the ISA.

[AlvinSultana]

I have to say I had a very poor experience with Vanguard.

I started to put some money in there as a safety precaution to spread the risk around.

The system just does not seem to work very well for me and I am trying to remove the cash.

I might have more patience for the crappy system if the funds were performing well. They are not.

[halo34]

Depends on the funds, mine are all doing very well with them. However it does take time to complete sell orders to money in the bank admittedly.

[xeny]

AlvinSultana said:

I might have more patience for the crappy system if the funds were performing well. They are not.

Are they active or passive funds?

[timbo999]

My missus' Vanguard ISA has gone up 11% since she set it up in November 2020 i.e. 5 months ago. Seems okay to me!

[Colonel Cupcake]

AlvinSultana said:

I have to say I had a very poor experience with Vanguard.

I started to put some money in there as a safety precaution to spread the risk around.

The system just does not seem to work very well for me and I am trying to remove the cash.

I might have more patience for the crappy system if the funds were performing well. They are not.

What funds have you invested in?

Like the last couple of posters, my vanguard investments are doing OK.

[timberman]

anonymous said:

[redacted]

Just logged onto my account and I'm up over 26% since last March so no complaints here

[chip*]

AlvinSultana said:

I have to say I had a very poor experience with Vanguard.

I started to put some money in there as a safety precaution to spread the risk around.

The system just does not seem to work very well for me and I am trying to remove the cash.

I might have more patience for the crappy system if the funds were performing well. They are not.

I have experience over 3 platforms (HL, Vanguard & ii), and imo, Vanguard is up there with HL, and I particularly like the clear and concise historical data and performance tracker (see below for Graph, plus Calculations, Month, Investments). I have used ii for several months which has a clunky website and and the data/performance tracking is dire, but that's expected for a budget platform.

Unsure why you have problem removing cash, as I recently cleared out my trading account and the funds was in my accounts within days. You may experience "delay" to your sell orders, but are you submitting instruction within the dealing time/deadlines? i.e. are you submitting UK trades at 5.30pm GMT leading up to an Easter Bank holiday weekend and then wonder why there was no trade..;)

As to fund performance, it depends on your selection, but even my daughter's boring passive fund managed a respective return since inception/Feb-20 (see below). I chucked in a lump sum soon after her 1st birthday which was possibly the worse time in 2020, but no biggie as it has another 17 years of growth before she can access the funds.

[Skyedriver]

clarky92 said:

Thanks for the info everyone

I put the sell order in late Thursday evening, and it completed at 09:22 this morning.

Bit more digging around on the website and as others have posted, seems you need to wait for a couple of days for the funds to 'settle' before withdrawing

https://www.vanguardinvestor.co.uk/need-help/answe...

There you go bud, it'll be available probably Wednesday, you placed the sell after close on Thursday, not sure why it didn't sell until today, funds rather than company shares?