While we always advise investing for the medium-to-long-term, and a minimum of 3 years, you are free to withdraw your money whenever you need it. All standard withdrawals are free.
How to withdraw
There are two ways to withdraw your money from a Nutmeg pot.
From within your Nutmeg account on desktop or tablet, select withdraw from the Payments & Transfers menu then follow the simple steps.
Or, to withdraw from a specific pot, click on Options and then Withdraw.
Some things to bear in mind:
- Because the value of your investments changes from one day to the next we can’t guarantee that you will receive the amount you request
- If you're withdrawing from an ISA, remember that any allowance used in this tax year will remain used, and you won’t get it back if you later pay back in to your Nutmeg ISA
- If you have money in both ISA and general investing accounts with us, we will first withdraw money from the general investing portion so as not to affect your ISA allowance
- We will send the money to the bank account you specified when you signed up. If it is not correct or has changed please contact us before making the withdrawal
What happens next?
Once submitted, the value specified will be earmarked and you’ll see it reflected as a pending withdrawal on your desktop and tablet homepage. This will disappear once the money has been sent to your bank account.
How long does it take?
Withdrawals typically take 3-7 business days, but can in some circumstances take longer. All withdrawals must go through the following steps:
- We will sell your investments at our next twice-weekly investment cycle, typically on a Monday or Thursday
- Once sold, the trades take 2 business days to settle before we receive the cash to send back to you
- Once the trades settle we send the money to your nominated bank account by electronic transfer, which will arrive the following business day.
Please note under our terms and conditions, where you pay money into your account by Debit Card, and you request a withdrawal within 60 calendar days, we will return the withdrawal payment to the same Debit Card. This process takes 3-10 working days to clear into your account from the day we receive the cash, although our experience is that it is much closer to the quicker end of that scale.
Due to the time it can take to receive the proceeds of a withdrawal, we recommend that customers enter their withdrawal requests in plenty of time ahead of any major purchases and also hold sufficient emergency cash outside of Nutmeg. Three months pay is generally considered to be good practice.
Please remember that the value of your investments may fluctuate during the period that you request a withdrawal and the trade is executed to sell your investments.
In specie transfers
If you request an in specie transfer out, where we transfer the investments you own rather than sell the investments and send you the money as cash, you will need to pay £20 per stock. Please contact us to request an in specie transfer.