Can I move cash between my Dodl accounts?

Move cash from one of your Dodl accounts to another

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Written by Sadie Cash
Updated over a week ago

Yes! But here are a few things to note: 📝

You can move cash from your Dodl GIA into any other type of Dodl account.

But moving cash from your GIA into your investment ISA, investment lifetime ISA (LISA) or pension will count towards your allowance(s) for those accounts, just like adding cash from your bank account would. So just bear this in mind before moving your cash. 💸

You can also move cash from your Dodl investment ISA into your other Dodl account(s), but there are a few more points you should know about before you do. 👇

  • Moving cash from your investment ISA into your GIA means it’ll lose the tax benefits of being in an ISA.

  • Moving cash from your investment ISA into your pension will count as a pension contribution (so affect your pension allowance) and how you’re taxed is different in a pension.

  • The Dodl investment ISA isn’t flexible, so you won’t be able to pay the amount you move out back in if you don’t have enough ISA allowance left this tax year.

  • Moving cash from your investment ISA into your investment LISA is possible, but only if all payments you’ve made to your investment ISA this tax year are kept together AND the cash you move won’t cause you to exceed your remaining lifetime ISA allowance. So cash paid into your investment ISA this tax year can only be moved into your investment LISA if you’ve paid in £4,000 or less.

  • Moving cash from your investment ISA into your investment LISA won’t count towards your overall ISA allowance.

You won’t be able to move cash from your Dodl pension or Dodl investment LISA into any other type of Dodl account. And you also won’t be able move cash from your GIA or investment ISA into a Dodl account which doesn’t belong to you.

Lastly, you’ll only be able to move available cash between your accounts. 💰 So, if you’ve just sold an investment or added cash from your bank account, you’ll have to wait for your cash to clear and become ‘available cash’ before you can move it. This usually takes a few working days.

Not sure if you can move cash between your accounts? Chat to the team to find out. 💬

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