What is the switch next action?
The Switch Next Action function allows you to automatically resubscribe to another product when your existing FTF matures. Funds from the maturing product will be used automatically to fund the new subscription, so no cash movements or additional action are required from you.
Why would you use a switch?
Like the auto-roll Next Action, switch allows you to reinvest all or part of your maturing funds automatically, without needing to place a separate subscription. This helps ensure you don’t miss a subscription cut-off, which could result in lost interest.
While Auto-Roll reinvests your funds into the same product, Switch allows you to select a different product for your maturing funds.
You can also combine Switch with Auto-Roll, Hold or Withdraw, giving you the flexibility to manage your maturing funds in the way that best suits your needs.
When will select be available?
The select next action option will become available at 09:00 UK time on the working day before your existing FTF’s cut-off date. This timing ensures that the products available for you to switch into reflect the latest rates.
Step by step video
User Guide
How
Navigate to the portfolio menu and select the FTF you wish to switch from.
Open the next actions menu using the toggle next to overview.
Enter the amount you wish to switch.
Update the next action to switch and enter the amount you wish to switch. This can be the full or a partial amount of the maturing funds.
Press the select different FTF. This will will return all the FTFs eligible to switch into based on the maturity date and amount you have selected to roll.
Information about the select product will show. Confirm by pressing the select button in the top right.