At inbestMe, we strongly believe in investing by objectives, a philosophy that we actively promote among our clients. That is why most of our users have more than one portfolio to achieve their different financial goals.
In recent months, many clients have requested internal transfers between their portfolios within inbestMe. During 2024, some 350 internal transfers have been ordered, and we see these requests increasing, potentially doubling by 2025. A common example is when people decide to transfer part of their savings portfolio (or their emergency fund) to a portfolio of index funds, bonds, or target portfolios.
To simplify this process, we have incorporated a new functionality that allows our clients to autonomously request these transfers directly from their personal client area. Until now, this process was carried out via telephone calls and e-mails. As of January 27, 2025, you will be able to do this easily from your customer area.
How to make a request for an internal transfer
Need to move funds between your inbestMe portfolios? Now you can do it yourself in just a few steps. With our new internal transfer automation feature, managing your different portfolios is easier than ever.
Steps to perform an internal transfer
Step 1: Select “Internal fund transfer”.
Access this option from the summary screen of your personal area or from within a portfolio by clicking on the “More” button and selecting “Internal fund transfer”.
Note: If you wish to transfer funds to a new account, you must first create and activate it by making a symbolic contribution (e.g., €1). Once created and activated, it will appear as an available option for the internal transfer of funds.
Step 2: Choose the source and target portfolios
- If you start the process from a specific portfolio (at the top right of the screen), the system will automatically select it as the source portfolio. Then, you will only have to choose the destination portfolio among those available for that type of asset (see below for restrictions).
- If you start from the home screen button (top left screen), you will have to manually select both the source portfolio and the target portfolio, as shown in the following screens. Once the source portfolio is selected, the system filters again the available/compatible accounts for the transfer.
Important restrictions:
- Transfers can only be made between portfolios whose holders are the same (for tax reasons).
- Only transfers between portfolios of the same asset type are allowed:
- Indexed or monetary funds ↔ Indexed or monetary funds
- ETFs ↔ ETFs
- Pension plan portfolios do not allow internal transfers and will not appear as an option.
In the example, the client selects a transfer between a savings portfolio (with money market funds) to his portfolio of index funds #1.
Step 3: Select type of transfer, validate and request
Select between a total transfer (involves closing the source portfolio) or a partial transfer, where you must indicate the amount using the pencil or the slider.
* Note: The minimum transfer is 1000 euros.
The table/calculator at the bottom of the screen allows you to preview the final result of the transfer, both in the source and destination portfolios. Once you have verified that the transfer is as desired, you can click on “Request”.
Note:
- If the balance of the source portfolio falls below the established minimum, the system will require a full transfer. Optionally, you can obviously reduce the amount to be transferred from the source portfolio to maintain the minimum required.
- The calculator: at the bottom of the screen, there is a calculation table that allows you to preview the final result in both the source and target portfolios.
What happens next?
Once the transaction is requested, the operations team will validate and execute the transfer.
Key aspects:
Convenience/efficiency: You can perform these requests autonomously, without the need to contact our customer support team. Our support and operational team can concentrate on more value-added activities for our customers.
Accuracy: The system ensures that only possible transfers are allowed according to the defined rules. The customer knows in advance what can and cannot be transferred and avoids queries.
Visibility and control: Before confirming, you can visualize the impact of the transfer on both portfolios (source and destination).
Estimated deadlines:
The transfer will be processed within 1-2 business days of the request.
Subsequently, both portfolios will enter the usual rebalancing process, which may take an additional 3 to 5 business days.
Cost:
This functionality is available at no cost or commission, as in the past.
Upcoming developments
We plan to expand this tool to include periodic internal transfers or when a portfolio reaches a certain balance, tools that will allow our clients to plan and automate their investments even better.
