Making a withdrawal from your plan
Thinking about taking cash out of an investment? Here are the details you need.
Request a withdrawal online
If you’d like to make a withdrawal from a Wesleyan investment plan, the simplest way to start the process is to log in to My Wesleyan and complete the online withdrawal form.
Before making a withdrawal, you may want to book an appointment with your Specialist Financial Adviser from Wesleyan Financial Services. They can advise on the best way to proceed with your withdrawal in relation to potential income tax liabilities.
If you're thinking of ending your plan altogether, please read this document to help you consider your options.
With Profits ISA withdrawals
To request funds out of your With Profits ISA, you can contact us via My Wesleyan.
Once you’ve logged in to My Wesleyan, you can complete a form to request funds from £500 to £50,000 to be paid directly into a bank account in your name. Upon receiving your request, we aim to send the money to you via BACs within six working days.
You’ll need to leave a minimum of £1,000 in your account to keep your ISA open (or £1 if you have monthly contributions going into the account).
Capital Investment Bond or Flexible Savings Plan withdrawals
You can log in to My Wesleyan to request funds from £500 to £50,000. They’ll be paid into the same bank account that you have used to contribute to your investment. You can do this by filling out an online form or by sending us a secure message.
To keep your investment open, you’ll need to leave a minimum of £500 in your account.
Should you wish to access more than £50,000 you can still use the online form to request this, but we may need additional documentation.
Our claims team will respond to your request electronically. If you need to send us any documentation, this can be done via secure messaging through My Wesleyan.
Should you wish to withdraw cash from your pension, please call our Retirement team on 0800 975 0140 to discuss your options. Lines are open Monday to Friday, 9am - 5pm.
If you are withdrawing from a WUTM plan, the easiest way is to log in to your WUTM portal. You can request a withdrawal online for single-owned plans.
For jointly-owned plans, you can call 0330 123 3813. Lines are open Monday to Friday, 9am - 5pm.
Other ways to make a withdrawal
You can also start the withdrawal process by phone or by post:
- Call us on 0800 316 7034. Lines are open Monday to Friday, 9am - 5pm.
- Write to us at:
Customer Relationship Centre
Wesleyan Assurance Society
What happens if my withdrawal is subject to a tax charge?Taking money from these investments may give rise to tax charges. If this is the case, then we will alert you to this and will issue you with a certificate detailing the amount of tax chargeable. We will also report this to HMRC.
How long will it take to receive my withdrawal?With Profits ISA withdrawals will take around six working days. For all other withdrawals, once we’ve received your request, we aim to have the money over to you within five working days.
Worried about the general cost of living? Take a look at our support page for help and guidance.