Transferring to another provider

We’re sorry you’re thinking of leaving us. To help things go as smoothly as possible, this page covers all you need to know about moving an account, including a checklist to make sure you’ve got everything covered.

If there’s anything we can do to change your mind, you can speak to our friendly team by emailing customeraccounts@ajbell.co.uk before starting your transfer.

Why are you thinking of leaving?

Please tell us why you’re thinking of leaving. We’d appreciate the feedback, and it will help us improve our service.

How to transfer your AJ Bell account

1. Apply with your new provider

First, you’ll need to begin your transfer with your new provider, usually by completing their transfer form. Once you’ve done that, they’ll contact us to get your transfer underway. If you’re transferring your Self-invested personal pension, we may need you to complete a discharge form – we’ll contact you about that, if so.

2. Choose how you want to transfer your investments

You can choose to transfer your account as cash or investments. You can read more about this below.

3. Confirmation

We’ll send you a confirmation email when the transfer is complete. If you’ve chosen to transfer all of your cash and investments, we’ll then close your AJ Bell account.

Before-you-transfer checklist

• Are your details up to date?
  
  All the personal details we have for you – such as your full name, address, email address and phone number – must match the details you give to your new provider. Any mismatch could cause delays.
• If you’re transferring cash – are you happy selling your investments? 
  
  If you want to transfer your investments as cash, remember you’ll need to sell them first. Before selling, remember that cash transfers can be vulnerable to market volatility. You'll be out of the market while the transfer is completed. If you’re selling investments in a Dealing account, don’t forget that you may also need to report and pay capital gains tax.
• Can your new provider accept the investments you want to transfer? 
  
  If you’re transferring investments, it’s essential to make sure your new provider can accept them. You’ll need to sell any investments they can’t take and transfer them as cash. You can also continue holding them with AJ Bell.
• Have you paid all your charges with us? 
  
  Any outstanding charges could delay your transfer. This includes an overdrawn balance in your account.

• Have you taken advice?  

  Transferring your account is a big decision. If you’re unsure, please think about taking financial advice. You can get guidance on money and pensions from the free, government-backed service MoneyHelper.

  Or if you’re after pension guidance specifically, try Pension Wise (part of MoneyHelper), designed for people over 50. You can contact Pension Wise by calling 0800 138 3944 or visiting the website.

• Are you sure the provider you’re transferring to is legitimate?  

  Unfortunately, scammers target people looking to transfer or withdraw money from their accounts. If you invest in a bogus scheme or investment, you could lose everything – and it’s unlikely compensation will be available. To learn more about protecting your investments, visit the FCA’s ScamSmart page or our security centre.

  Fraudsters may approach you by email, phone, text or in person. They tend to impersonate legitimate, regulated firms. Be especially wary if someone:

  • Promises you access to your pension before the age of 55
  • Tries to convince you to withdraw money to invest somewhere with a high return
  • Offers you a 'free pension review'

  Unsolicited phone calls about your pension are illegal. If you receive one, you should hang up immediately and alert the Information Commissioner's Office (ICO).