Welcome to interactive investor
- You have an ISA with interactive investor. This was set up for you as a child through a charity called The Share Foundation, when you were looked after by a local authority.
- Your ISA was previously managed by The Share Centre, but its service closed on 27 November 2021. Your account was moved to a new ISA manager - interactive investor.
- You can find out more about your ISA and how to access it here.
- Your ISA is invested in one or more of the Investec wealth and investment group Multi Manager funds. You can find out more about these here.
- Investec Wealth and Investment is part of the Investec Group. Set up in 1974, Investec Group is a well-established, expert financial business with bases in South Africa and the UK. It manages over £58bn of money for investors. Your money will be managed by Investec Wealth and Investment’s experienced UK investment team, backed by its comprehensive research capability and proven investment processes.
- You can find out more about the Investec Group at investec.com.
What is an ISA and why was one set up for me?
An ISA is a tax efficient savings/investment account. Your account was first set up as a Junior ISA when you were a child, and it became an adult ISA when you turned 18.
As you were in care for more than a year, the account was set up for you so you could receive a payment of £200 from the government to invest for your future. This was done through a charity called The Share Foundation. You can find out more about The Share Foundation at sharefound.org. Now that you are over 18 you have control over your money.
Why didn’t I know about this before?
Your local authority should have passed you a letter around the time of your 18th birthday to explain your options for the money in your Junior ISA. If this is the first you have heard of your ISA, it may be that you did not receive this letter at the time. Whatever happened, your money is still there, and you can now decide what you want to do with it
How much money do I have?
This will depend on your personal circumstances, including how the investments your money was put in to have performed. To find out how much your account is currently worth and be able to give instructions to interactive investor (your new ISA manager) about what you want to do with it, you first need to complete a ‘maturity form’ and send that in with suitable identification, as detailed on the form. If your local authority did pass you a letter about your ISA around the time of your 18th birthday, your maturity form will have been included in that.
If you didn't receive the letter or require a new maturity form, you can download one here. Alternatively, you can contact us on 0330 135 8506 to request one to be sent out to you.
I want to take my money out. What do I need to do?
As your ISA is now held with interactive investor, you need to complete a maturity form and send it back to us with identification documents. There are guidance notes on the form telling you what you need to complete and send back.
How quickly can I get my money out?
The process to withdraw funds takes on average 7-10 days but first you will need to complete and return your maturity form so it could be longer before you receive your money. If you no longer have the form or can’t find it, we can send you a copy. You will need to quote your ii account number on the form which you should have received in a letter from The Share Foundation or local authority. If you don't have this, you can contact The Share Foundation who will help you to obtain it. Once we have received and validated your completed form and identification documents we will arrange for the investments in your account to be sold and the money paid out to you by BACs.
What ID will I Need?
In order to process your instructions, you will need to send us some documents so we can verify your identity. The type of ID documents you need to send will depend on what you wish to do with your account.
If you wish to sell what is in your ISA withdraw the cash and close your account
If you choose this option, please send a copy of a bank statement showing your name, bank account number and sort code back with your completed form. We will use this to verify your identity.
If you are unable to send a bank statement, please return the form with one of the following forms of ID and we will issue you a cheque:
- A mobile phone bill displaying your full name and address
- A utility bill displaying your full name and address
- Document displaying your full name and current address from a reputable 3rd Party (for example a letter from your School or University, a doctor’s letter, or your National Insurance Number confirmation letter)
If you wish to keep your ISA open
If you wish to keep your account open, you will need to complete our Verification of Identity form and send this back to us with documents to prove your identity and address. You can find the Verification of Identity form included within our Maturity Form. Please note if you choose to keep your account, it will be subject to our standard charges.
You can choose one of the following 2 ways to prove your identity and address:
- Option A – UK photocard driving license – send us a photocopy of your current photocard driving license, which confirms both your identity and address
- Option B – Proof of Identity & proof of address – send us photocopies of 1 document from each column
|Proof of Identity (choose one)||Proof of Address (choose one)|
|Valid (old style) full UK driving license You can use your old style full UK driving license as proof of identity or proof of address but not both.||Valid old style full UK driving license You can use your old-style full UK driving license as proof of identity or proof of address but not both.|
|Valid passport||Utility bills – gas, electric, water or landline phone Must be dated within the past 3 months and issued by your provider (online bills won’t be accepted)|
|Valid national identity card||Current bank statement or debit card statement, issued by a regulated financial sector firm in the UK, EU or equivalent country Must be dated within the past 3 months and issued by your bank or building society (online statements won’t be accepted)|
|Valid identity card issued by the Electoral Office for Northern Ireland||Current Council Tax demand letter Must be dated within the current financial year|
|Recent evidence of entitlement to a state or local authority-funded benefit (including housing benefit and council tax benefit), tax credit, pension, educational or other grant (Must be dated within the last calendar year)||Instrument of a court appointment (such as liquidator, or grant of probate) (Must be dated within the last calendar year)|
Please do not send us original documents
For full details of how to verify your identity if you wish to keep your account, please review the guidance on the Verification of Identity form.
I have other questions, who can help?
If you would like to know more about the Share Foundation please visit its website at sharefound.org.
If you have questions for your local authority about the circumstances of your account being set up for you, and how they have communicated with you about it, please contact the local authority directly. Your local authority may also be able to assist you with locating your account number if you don’t already have it. When you return your maturity form, having your account number will make it easier for us to confirm you are the owner of your account.
Otherwise, if you have questions about taking your money out or the move to another ISA manager that are not answered here, please contact us on 0330 135 8506 and we are happy to help.