Frequently Answered Questions
Get answers to the most common and frequently asked questions about. If you have a question you can’t find an answer to, please get in touch with the team on talktotillit@tillitinvest.com.
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General
Will I earn interest on the cash in my account?
Yes! Our custodian, Seccl Custody, pay interest on uninvested cash each month. We believe that this income belongs to our customers and so we pass 100% of the interest straight through to you. The rate is currently 1% AER.
What device can I use to access my TILLIT account?
At TILLIT we don't discriminate between devices!
You have full access to the platform on desktop, tablet and mobile. Just go to my.tillitinvest.com
Can I be logged in on more than one device at a time?
Yes, you can. But you may be logged out after a short period of inactivity.
What is the 'Recommended minimum cash balance'?
The 'Recommended minimum cash balance' is a voluntary cash balance for your Stocks & Shares ISA or General Investment Account.
It is there to help you manage your cash balance to make sure there is always sufficient cash in your account to cover platform fees.
You can find it on your Dashboard.
How is the 'Recommended minimum cash balance' calculated?
It is calculated based on platform fees due in the next three months, which in turn are based on the current assets in the account and assuming a 5% per month growth of your investments.
It is set to round up to the nearest £10.
Where can I find the terms and conditions of my account?
How do you use my information?
You can find out in our privacy policy.
Is my money FSCS protected?
TILLIT Limited is authorised and regulated by the Financial Conduct Authority (FCA). Our custodian, Seccl Custody Ltd, is also authorised and regulated by the FCA, and your money is FSCS protected (up to £85,000) should TILLIT or Seccl go into administration. Any invested money is not protected against market movements and your capital is at risk.
Who is Seccl Custody?
Seccl Custody is our custodian. A custodian is a regulated financial institution responsible for safekeeping client assets. Investment platforms and financial advisors regularly use custodians to safeguard client assets, execute and settle trades and transactions, as well as manage dividend and interest payments.
If you want to find out more about Seccl, you can do so by clicking this link.
Why do we show risk warnings?
TILLIT shows a risk warning when you are offered the option to open an investment account and buy or sell investments. We show these warnings to make sure you are fully informed about the decision you are about to make at that moment.
Some of the variations of our risk warnings include:
“Capital at risk.”
and:
“Your capital is at risk if you invest. The value of investments can go up and down, so you could get back less than you put in. Tax treatment depends on an individual's circumstances and may be subject to change."
What does “Capital at risk” mean?
Capital is the money you use to buy investments such as funds and stocks & shares in financial markets.
Once bought, the value of the investments may fall as well as rise due to a number of things including market movements. You are not guaranteed to make a profit when you invest.
“Capital at risk” means that because the value of your investments may fall, at the point when you come to sell your investments you may get back less than the amount you initially invested.
In plain English, it means that you may lose money when you invest.
Accounts & investments
What type of accounts does TILLIT offer?
We currently offer a Stocks & Shares ISA and a General Investment Account (GIA).
Can I invest in anything I want?
At TILLIT we believe in quality over quantity. Choice is good, but too much choice can be overwhelming, even paralysing. That is why we have whittled thousands of funds down to what we believe are the best-in-class.
We currently have 95 open-ended funds, investment trusts and ETFs on the platform, covering a wide variety of asset classes, regions, and styles. Whether you are a novice or a seasoned investor, there is something for everyone.
Everything in the TILLIT universe is available for all accounts. Regardless of whether you have a Stocks & Shares ISA or a General Investment Account, you can invest in whatever you like!
How long do orders take to process?
This depends on the type of fund you are buying or selling.
Open-ended funds are traded directly with the asset manager via a system called Calastone. From the time you place your order for an open-ended fund on TILLIT, it will typically settle within 3 working days. In the meantime, your order will show as "Pending" on your Dashboard.
The settlement time depends on the asset manager's daily cut-off time (if it's before or after the time you placed your order that day) as well as how quickly they process orders. You will find the cut-off time for each fund on its information page on the platform. If you can't find it, you can speak to us on live chat, otherwise you can always email us at Talktotillit@tillitinvest.com
Investment trusts and ETFs are closed-ended funds that trade on an exchange. At TILLIT we trade this type of funds daily at 15.00.
If you place your order before this time, your order typically settles within a couple of hours. If you place your order after this time, it will be traded at 15.00 the following day.
Will I get a notification once my order has been processed?
When you make an order, it will show in the 'Holdings' section of the relevant account. There will be an 'i' symbol with a tooltip containing more information about the order. It will also show in 'My documents' under the 'Contract notes' tab with an 'i' symbol showing that the order is pending. Once the order has settled, you will be able to download the contract note.
We are currently working on automated email confirmations for orders, but for now you can find and download the order notes on your Dashboard.
Can I transfer my investment account to TILLIT?
Yes! You can transfer your a Stocks & Shares ISA or a General Investment account to TILLIT in cash or in specie.
What is a Transfer Concierge?
We have a TILLIT team dedicated to helping our customers transfer their Stocks & Shares ISA or General Investment Account to TILLIT with ease. Speak to us via live chat to find out more: Monday-Friday, 09:00 - 17:00.
Does TILLIT offer a Self-Invested Personal Pension (SIPP)?
Not yet, but you can register your interest and we'll let you know as soon as it’s ready!
Getting started
How do I start investing on TILLIT?
1. Log in to your TILLIT account;
2. Click the 'Start investing' button at the top of the screen. Alternatively you can do so from your Dashboard. You have a choice of a Stocks & Shares ISA and a General Investment Account (GIA);
3. Complete the steps on the screen. Remember, you will need the following information to complete the process:
- ID scan/photo (passport, driving licence or national ID card);
- Bank account details (sort code and account number);
- National Insurance number;
- Address history for the past 3 years.
4. Once completed, we will verify your identity and open your account. The entire process can take as little as 5 minutes, but sometimes it can take a bit longer if we need to perform additional verification of your details.
5. Once the account is set up you can add cash and start making investments!
Still not sure? If you have a TILLIT account you can speak to us on live chat, otherwise you can always email us at Talktotillit@tillitinvest.com and we'll help you.
Why do you need my National Insurance number?
TILLIT is authorised and regulated by the Financial Conduct Authority (FRN 983417) and as such there are certain Anti Money Laundering rules and regulation we need to comply with which require personal information for ID verification.
In addition, if you open a tax wrapper like a Stocks & Shares ISA, your National Insurance number is required for tax purposes.
How do I add cash to my TILLIT account?
Adding cash is simple and most deposits clear within seconds!
- Head to your Dashboard.
- Click ‘Add cash’ on the account you wish to fund and follow the instructions on screen.
We offer payment by OpenBanking for most UK banks and for the rest you can make a manual transfer. Either way, we’ll guide you on the screen.
Top tip for manual transfers!
When setting up the payment in your banking app, make sure to use the exact amount and payment reference shown on the screen on TILLIT. This allows cash to transfer more quickly and without hold-ups!
How do I withdraw cash from my TILLIT account?
- Head to your Dashboard;
- Click on the relevant account card;
- Click the 'Withdraw cash' button;
- Enter the chosen amount that you would like to withdraw and follow the steps on the screen.
Withdrawals can take up to four working days to clear.
Where do I find my processed orders?
- Head to your Dashboard;
- Click on the relevant account card;
- Click on 'My documents';
- Click on the 'Contract notes' tab.
Where can I see my investments?
- Head to your Dashboard;
- Click on the relevant account card;
- Scroll down to the 'Holdings' tab.
Transfers
What kind of investment accounts can I transfer to TILLIT?
- Stocks & Shares ISAs
- General Investment Accounts (GIAs)
- Self-Invested Personal Pension (SIPPs) - Coming soon! Register interest
How can I transfer to TILLIT?
To transfer your account to TILLIT, head to your Dashboard and click on the Transfer card or tab and follow the steps on the screen.
If you don’t yet have an investment account, you can open one by clicking the button ‘Start investing’ on the website or the platform and follow the steps from there.
You can transfer your account in cash or in specie. Please see below FAQs for more information on both options.
What is a cash transfer?
If you have a Stocks & Shares ISA or General Investment Account (GIA) on another platform, you can transfer it to TILLIT. By transferring your account to TILLIT as cash, your existing provider will sell down any holdings in your account to cash before transferring it to TILLIT.
Once your transfer has completed, you can login and find your cash will be available on your TILLIT. Dashboard, ready to be invested.
What is an in specie transfer?
An in specie transfer is the process of transferring assets you hold as they are from one provider to another, instead of having to sell them and transfer the cash proceeds. You remain invested throughout the transfer.
What kinds of assets can I transfer to TILLIT in specie?
Asset type | Accepted (✅) / Rejected (❌) |
---|---|
UK domiciled open-ended funds | ✅ |
Investment trusts | ✅ |
Real estate investment trusts (REITs) | ✅ |
Exchange-traded funds (ETFs) | ✅ |
Exchange-traded commodities (ETCs) | ✅ |
Individual stocks & shares | ❌ |
Non-GBP denominated assets | ❌ |
Cryptocurrencies | ❌ |
Leveraged ETFs | ❌ |
Complex assets (including over-the-counter instruments, private assets, etc) | ❌ |
Any unregulated assets | ❌ |
If you are unsure whether we are able to accept a particular asset, speak to our team via live chat or email our Transfer Concierge team at transfers@tillitinvest.com and we’ll be happy to help.
What is the Dark Universe?
The Dark Universe is where we host any funds, investment trusts (including REITs) or ETFs (including ETCs) you bring with you that are not currently in the TILLIT Universe. Find out more about the Dark Universe here.
Are there any restrictions on transferred assets that end up in the Dark Universe?
You will be able to continue to trade your Dark Universe holdings but if you sell out of a Dark Universe holding in full you will not be able to buy it back, unless it was later added to the main TILLIT Universe.
You can only buy more of a Dark Universe asset in the account it was originally transferred into. You would not be able to invest in it through a different investment account. For example, if you have an ISA and a GIA and you hold a Dark Universe fund in your ISA, you cannot buy it in your GIA.
You will find all the information about your Dark Universe holdings on your Dashboard and from there you can click through to the information page for each of your holdings, including your Dark Universe holdings.
Please see the table below outlining the information you will get on your Dark Universe holdings compared to TILLIT Universe assets.
TILLIT Universe assets | Dark Universe assets | |
---|---|---|
Trading (buy and sell) | ✅ | ✅ |
Performance data | ✅ | ✅ |
Fee information | ✅ | ✅ |
Yield data | ✅ | ✅ |
Factsheet | ✅ | ✅ |
KIID/KID | ✅ | ✅ |
Top 10 holdings, sectors, regions | ✅ | ✅ |
Fund manager data | ✅ | ✅ |
Other (name, ISIN, asset manager, size, structure) | ✅ | ✅ |
TILLIT View | ✅ | ❌ |
One-line description | ✅ | ❌ |
Fund manager video (where applicable) | ✅ | ❌ |
Sustainability data (where applicable) | ✅ | ❌ |
Ongoing due diligence | ✅ | ❌ |
Searchable in the TILLIT Universe | ✅ | ❌ |
Will I be able to see and invest in other Dark Universe assets?
Any Dark Universe holdings will only be available and visible to you. Other customers on TILLIT will not be able to find or invest in a Dark Universe holding, unless they have themselves transferred it to TILLIT.
What information do I need to transfer my account to TILLIT?
To start a transfer you need:
- The name of your current provider
- The client or account number of the account you want to transfer
If you don’t currently have an investment account with TILLIT, you will also need your passport or driving licence, National Insurance number, bank details and address history covering the last three years.
If we need any other information to get your transfer moving, our Transfer Concierge will let you know.
What could slow down my transfer?
To avoid delays or interruptions to your transfer to TILLIT, make sure that your personal details match those at your current provider before you start your transfer.
Once your transfer is in progress, should we need to contact you about anything, such as a unit class conversion, it may also take a little longer than usual. Our Transfer Concierge will contact you as soon as possible in that case and we will do everything we can to get you back on track as soon as possible.
How long does it take to transfer my account to TILLIT?
You can start transferring your account to TILLIT in less than 5 minutes! Once we have received your transfer request, we will reach out directly to your existing provider to let them know that you want to transfer your account to TILLIT.
Cash transfers typically take a few working days to complete and in specie transfer typically takes 4-8 weeks to complete, depending on your current provider and the complexity of your account. Our Transfer Concierge team will keep you in the loop every step of the way.
Your existing provider may reach out to you to confirm that you want to transfer, so keep an eye out for any communications in the days after you submit your transfer request on TILLIT to avoid any delays.
Can I cancel my transfer?
Once your transfer has been initiated it might not be possible to cancel. Whether we are able to cancel the transfer or not will depend on where we’re at in the transfer process as well as the policy of your current provider.
If you want to cancel a transfer, please contact us on transfers@tillitinvest.com or speak to us on live chat as soon as possible and we will see if the transfer can still be cancelled.
Are there any fees associated with transferring my account?
We won’t charge you any fees to transfer your account to (or from!) TILLIT. However, your current provider may charge exit and/or dealing fees. The costs and charges are dependent on your current provider.
Please note that some providers charge higher dealing fees if they make sales on your behalf, as opposed to you instructing the sale yourself. You should confirm dealing charges with them if you have any questions ahead of your transfer.
Please note that if you are transferring a General Investment Account in cash, or in specie and hold investments that TILLIT cannot accept, you may also incur a Capital Gains Tax charge as a result of those investments being sold down to be transferred as cash.
Tax treatment depends on an individual’s circumstances and may be subject to change.
Can I transfer my holdings from any provider?
When you click ‘Transfer to TILLIT’ on your Dashboard, you will be presented with a list of providers. Once you have selected your provider you will see if the in specie transfer option ‘Transfer my holdings’ is available or not.
If your current provider does not currently support in specie transfers, you will be prompted to note your interest of an in specie transfer from that provider in a live chat window. Our Transfer Concierge team will then investigate whether we can make it available.
What happens if I try to transfer an ineligible asset?
If you transfer an account containing one or more ineligible assets, then our custodian will instruct your current provider to sell the assets and transfer them as cash alongside the eligible assets.
Depending on your provider, they may make the sale for you automatically or you may be asked to make the sale yourself before the transfer can continue.
Please note that some providers charge higher dealing fees if they make sales on your behalf, as opposed to you instructing the sale yourself. You should confirm dealing charges with them if you have any questions ahead of your transfer.
What happens if TILLIT cannot host the same unit class of a fund I want to transfer?
In some cases, though rare, you may be invested in an open-ended fund through a special unit class that is not available on all investment platforms.
This may be for a range of reasons, including a special commercial agreement between your current provider and the asset manager, or if you invested a long time ago and your unit class has been superseded by a newer (typically a cheaper) one.
If you transfer a holding in a restricted unit class, we will attempt to get access to it so that you can continue to hold it, but if we are unable to do so, we may have to convert your holding into a different one. During a fund conversion you stay invested and there is no need for to buy or sell the units and there are no Capital Gains Tax implications.
Please note that you will still hold the same fund, but the fee may be different in the new unit class. If we cannot onboard your current unit class, our Transfer Concierge will reach out to ask you how you want to proceed and your transfer will be on hold until we hear from you.
Can I transfer just some of my holdings to TILLIT?
Partial in specie transfers are complex, not easily automated and dependent on the terms and conditions of your current provider.
If you want to make a partial transfer to TILLIT, please reach out to us on live chat or email our Transfer Concierge at transfers@tillitinvest.com and we’ll be happy to help. We will ask you for information about the type of account you are looking to transfer, the assets and units you want to transfer and details about your current platform.
Please note that partial ISA transfers are only possible by transferring either the current tax year’s contributions in full, or some/all of your previous years’ contributions.
Do I still have access to my account once I have instructed my transfer request?
Your current provider may restrict your ability to trade, add or withdraw cash while the transfer is in progress. You should reach out to them if you are unsure before you transfer.
Please note that if you have opened a TILLIT Stocks & Shares ISA as part of a transfer, you will not be able to add cash to your ISA on TILLIT until the transfer completes. This prevents you from accidentally over-subscribing cash to your ISA in the current tax year.
How will I know my transfer has started?
As soon as we receive your transfer request, we automatically reach out to your current provider to let them know you want to transfer your account. At this stage the status of your transfer will show as ‘Requested’ on your Dashboard.
Once your current provider has accepted the transfer request, your transfer starts and we begin to onboard your assets. At this stage the status of your transfer will change to ‘In progress’ on your Dashboard. You will also receive email confirmations at each stage.
How will I know when the transfer completes?
Once your transfer has completed, we’ll send you a confirmation email and the status of your transfer will change to ‘Completed’ and appear as a card within the Transfers section on your Dashboard.
Can I see my incoming holdings on my Dashboard while my in specie transfer is in progress?
When we have received your transfer request, you will see the status and progress of your transfer on your Dashboard.
We work hard to make the transfer process as easy and transparent as possible and some assets may complete quicker than others, sometimes several days or weeks apart, but as soon as we have any new information about your transfer or the assets being transferred, we will update the status on your Dashboard automatically.
If anything about your transfer doesn’t look right or if you have any questions, please reach out to us on live chat or email our Transfer Concierge at transfers@tillitinvest.com and we’ll be happy to help.
What happens with my direct debit and any regular investing instructions?
This depends on your provider. Some providers will cancel your direct debit once the transfer has completed, but you should check with your bank to make sure. We recommend that you contact your current provider to find out what their procedure is before initiating your transfer.
If you would like to set up a regular deposit or investment instruction on TILLIT, please speak to our team and we’ll be happy to help.
What if I’m due a dividend payment?
If you’re due a dividend payment, this won’t delay your transfer. Once the dividend clears with your old provider, they will forward it to us and we will allocate it to your account.
Why is my current provider referring to Seccl Custody, not TILLIT?
Seccl Custody is our custodian and manages the transfer of your account from your current provider to TILLIT. Therefore, your current provider may refer to the transfer being transferred to Seccl Custody, not TILLIT. But there is no need to worry, we work closely with Seccl to ensure that your account is moved over to TILLIT as smoothly as possible.
You can read more about Seccl Custody here.
Fees
What does it cost to sign up to TILLIT?
Nothing! It is free to sign up to TILLIT and explore the platform and the investment universe we offer.
If you want to start making investments you can choose to open a Stocks & Shares ISA or a General Investment account.
A platform fee will be charged on the assets in your account(s).
What does it cost to invest on TILLIT?
0.40% of your assets in the first year.
We believe in simple, clear fees. We therefore only charge one fee, a platform fee of 0.40% for the first year on the total assets (cash and invested) in your TILLIT account(s).
Your fee will drop by 0.01% every year thereafter until it reaches 0.25% - regardless of the size of your assets!
We believe that investing is about the long-term and we want to reward customers for taking a long-term view. This discount is applied at the client level, not the account level.
Example 1: After five years of being a TILLIT customer, you would only pay 0.35% per annum. The maximum discount is achieved after 15 years when you would pay 0.25% per annum
Example 2: You open a Stocks & Shares ISA today and pay 0.40% per annum. In three years time you decide to open a General Investment Account as well, at which point you pay 0.37% on the total assets in your accounts, not just on those in your ISA.
There are no trading, transfer, or exit fees.
Are there any other fees or charges?
Stamp duty. This is a one-off tax of 0.5% applied to buy orders for investment trusts. This is charged by the UK government.
PTM levy. This is a charge of £1 applied to investment trust buy and sell orders with a value greater than £10,000. This is charged by the Panel of Takeovers and Mergers.
Ongoing Charge Figure (OCF). This is an annual fee expressed as a percentage to cover the costs of running the fund, trust or ETF you have chosen to invest in. It is charged directly by the asset manager. In some cases, there may be additional fees charged by the asset manager, such as performance fees.
How is the TILLIT fee calculated and charged?
It is calculated daily based on your TILLIT platform fee and the total value of the assets in your account(s). Please see the calculation below:
Daily value of the assets in your account(s) x (your TILLIT platform fee/365)
It is charged on, or around, the 10th of every month, in arrears, from available cash in your TILLIT account(s).
What if I don't have sufficient cash in my account to cover the TILLIT fee?
If you do not have enough available cash to cover the TILLIT platform fee, we may have to sell down some of your investments to cover our fees.
Account settings
How can I change my password?
- Head to your Dashboard;
- Click on 'My details';
- Click 'Change password'.
How can I change my personal details?
- Head to your Dashboard;
- Click on 'My details';
- You can click on the relevant prompt that will take you to live chat, otherwise you can always email us on talktotillit@tillitinvest.com and let us know what information you need to update.
As a financial platform, there are certain AML rules and regulations we need to comply with. Therefore, some personal detail changes may require us to run a new identity verification check. If so, we'll let you know.
Can I change my bank details?
Yes, you can! Reach out to us on live chat or email us on talktotillit@tillitinvest.com and we'll help you.
The new bank account must be held in your name and registered to your current address. We may require additional documentation to process your request. If so, we'll let you know.
How can I close my account?
We're sorry to see you go.
To close your account, you can reach out to us on live chat or please email us on talktotillit@tillitinvest.com and we'll take it from there.
Troubleshooting
I can't access my account, what do I do?
We're sorry that you are having difficulty accessing your account! Email us on talktotillit@tillitinvest.com and we'll help you.
I tried to open an investment account, but it says you need additional information. Why is that and what do I do now?
Sometimes, we have to carry out additional checks to verify your identity. This is standard practice for AML verifications and we appreciate your patience.
We will send you an email to your registered email account within 24 hours. This will contain more information about what is holding up your account as well as next steps to get it up and running.
Why did my identity verification fail?
There can be a number of reasons why your identity verification has failed. But don't worry, we are looking into it and will be in touch within 24 hours (usually sooner) to let you know what is happening.
We understand that this can sometimes be frustrating, but we will always keep you informed and we aim to get you up and running as quickly as possible!
I have added cash but can't see it in my investment account.
When adding cash to your TILLIT account via a bank transfer, you must make sure that the details of your transfer match the details on the screen in the app - including the payment amount and the reference.
If the details aren't an exact match, there will be a delay in allocating your deposit. This is because we need to perform some extra checks manually to make sure your hard-earned cash goes to the correct account and not someone else's!
If you are unsure, or have made a transfer and need help drop us a message on chat, otherwise email us on talktotillit@tillitinvest.com and we'll help you!
I made a withdrawal, but I can't see the cash in my bank account.
Cash withdrawals can take up to four working days to clear. If you still cannot locate your withdrawal after four working days have passed, then reach out to us on chat, otherwise email us on talktotillit@tillitinvest.com and we'll help you.
My mobile number has changed. What do I do?
Lost or broke your phone? No worries! If you have a TILLIT account you can speak to us on live chat, otherwise just email us on talktotillit@tillitinvest.com and we'll be happy to help.
Because we use your mobile number to secure your account via two-factor authentication, we may need additional information to change your phone number. If so, we'll let you know.
What do I do if I find a bug on the platform?
If you see something that doesn't look right, then please let us know as soon as possible by speaking to us on live chat or emailing us at talktotillit@tillitinvest.com.
How can I get in touch with support?
If you have a TILLIT account you can speak to us on live chat, otherwise you can email us directly on talktotillit@tillitinvest.com or use the contact form on the 'Contact us' page.