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General Category => Shares => Topic started by: Adrian Punt on September 19, 2020, 09:31:47 pm

Title: Transferring FNB TFSA (shares) into EE
Post by: Adrian Punt on September 19, 2020, 09:31:47 pm

Help please.

I have 3 TFSA accounts with FNB.

First was an Ashburton TFSA account (invested in the Mid Cap and Top40). No problem transferring it over into EE.

Next I have a TFSA (cash) account which I'll transfer over later.

But I also have a TFSA (shares) account (https://www.fnb.co.za/invest/tax-free-accounts/taxFreeSharesAccount.html   <----on of those)

FNB is saying I need to sell these shares first and then transfer as cash to Easy Equities.

Is this right?

How come I was able to transfer the Ashburton one without having to sell. That too was in shares, not cash.

I don't want to sell, as if I am not mistaken this will impact my annual limit.


Anyone else experience a similar predicament before?


Hope someone can help!

Title: Re: Transferring FNB TFSA (shares) into EE
Post by: Patrick on October 01, 2020, 05:42:47 pm

My guess is because there isn't a top 100 ETF, it looks like they're joining the top 40 index with the midcap index inside their own wrapper. EE doesn't have the equivalent, so you can't move it directly.

It shouldn't be a problem as long you you never withdraw any cash (apart from transaction fees), get them to move it.