ISA Withdrawals
If you would like to make either a full or partial withdrawal from your LV= ISA, merely put your request in writing including the details listed below and send to:
LVPM
PO BOX 3757
County Gates
Bournemouth
BH1 2BF
In your written request, please include your:
- Name
- Address
- ISA reference number
- Original signature at the bottom of the letter
Your request will be processed within 24 hours of receipt and the payment is made by cheque within 4 working days of receipt of the request.
A confirmation letter will be sent to confirm the amount of the cheque. If you have chosen to withdraw your entire ISA fund we will send a closure letter to confirm that the ISA policy has been closed.
In most cases, we do not require any further information from you in order to make a withdrawal.
The only case in which we will require documents from you is if we do not believe the signature on the request matches the signature we have on file. In this case, for security, we will ask for a photocopy of one of the following:
- Driving Licence
- Passport
- Bank Statement
- Utility bill
Frequently asked ISA withdrawals questions:
When am I able to withdraw my money?
Is the payment sent directly to me?
Can I have the payment made directly into my bank account?
Are you able to make payment to a third party?
What is the minimum and maximum amount that I can withdraw?
Are there any charges applied if I withdraw from my ISA?
Is there any chance that my request will be rejected?
When am I able to withdraw my money?
You can withdraw your money at any time (subject to leaving a minimum balance for some ISAs).
Is the payment sent directly to me?
You are able to select whether you would like the cheque to go directly to you or to your bank account.
Please note: If you have changed your address within 3 months before a withdrawal any payments are sent directly to your bank by cheque. If you wish to receive the cheque personally we require a photocopy of documentation. Please find examples below:
- Driving Licence
- Passport
- Bank Statement
- Utility bill
Can I have the payment made directly into my bank account?
We do not have the facility of direct credit. However, we are able to make a payment by CHAPS directly into your bank account within 24 hours for a charge of £25.
Are you able to make payment to a third party?
We are unable to make payment to a third party. Payment must be made to the policy holder or the bank of the policy holder.
What is the minimum and maximum amount that I can withdraw?
You are able to withdraw the entire fund of your ISA.
- For Cash and Stockmarket ISAs your ISA will then become closed (unless regular payments continue).
- For Life With Profits ISAs you can still keep your ISA open even though all money has been withdrawn.
If you wish to leave your ISA open you must normally leave the following minimum amounts:
Type of ISA | Minimum amount to be left in |
|---|---|
Cash (Easy Access) | £10 |
RNPFN One ISA | £300 |
Stock Market | £500 |
Life with Profits | N/A |
Are there any charges applied if I withdraw from my ISA?
There are no penalties or charges applied. However, for the With Profits Life ISA a Market Value Reduction may apply on some withdrawals.
Is there any chance that my request will be rejected?
The only way in which the withdrawal process could be delayed is in the case of security where there is a problem with matching your signatures. As stated above, in this instance, we will request documentation to confirm your identity and continue with the payment of your withdrawal on receipt of this documentation.
