Settlement is an external process dictated by the stock exchanges on which an instrument is traded.
Trades of UK stocks typically settle two working days after the trade date (T+2 settlement cycle) whereas trades of US stocks typically settle three working days after the trade date (T+3 settlement cycle).
Cash resulting from a sale won’t be available to withdraw or transfer until that trade has settled. You can, however, use unsettled cash to purchase stock.
You need to verify your linked bank before you can withdraw the funds. This is a one-off security step to ensure that the linked bank account you want to withdraw to is in your name. Unfortunately, this can’t be done through a Google / Apple Pay top-up - it has to be through a bank transfer.
You'll just need to go to account > top-up > bank transfer, and follow through our top-up instructions. From here, you can use Open Banking to initiate the transfer or find the details to complete a manual bank transfer.
It can be as little as £1, and once the payment is applied to your account (which takes 2-4 working hours), you are free to withdraw whenever you’d like! 🎉
When you sell some shares, you won’t be able to withdraw the cash until the trade has settled. Settlement is typically completed 2-3 working days after the trade has executed
If you have only topped up using Apple or Google Pay, you’ll need to verify your linked bank account by making a bank transfer (minimum £1) before you can withdraw to that account
If you have an ISA with any outstanding monthly payments, you will need to pay for any unpaid months before you can withdraw.