Investment Process

Method Of Investment


Cash Investments

Debit card payments are received by us the day they are made. *We open your IFISA account and begin your cool off period the working day that we receive your card payment. Bank transfers usually take between 1 and 3 working days to be received by us. *We open your IFISA account and begin your cool off period the working day that we receive your bank transfer. Cheques must first reach us via the postal service. Once received by us it usually takes between 5 and 7 working days for us to process and clear the cheque. *We open your IFISA account and begin your cool off period the working day that we receive your cheque.

*Opening your IFISA account and beginning your cool off period is dependent on your acceptance of the Terms and conditions and the Information Memorandum document, which you must do within our platform.


ISA Transfers

When transferring an ISA to us we must first receive your completed and signed transfer application via the postal service. *We open your IFISA account and begin your cool off period the working day that we receive your completed and signed transfer application. To complete your transfer, we must post the required documentation to your current ISA provider. Your current provider must process the transfer and post us their confirmation of this and either include a cheque or make a bank transfer for the funds being transferred. The time it takes providers to complete this process varies and can be up to 30 days but on average it takes around 5 working days. It will usually take us between 5 and 7 working days to process and clear cheques or between 1 and 3 working days to clear bank transfers. The majority of ISA transfers can be completed by us within your 14 day cool off period meaning that at the end of your cool off we will have your cleared funds from your transfer however this cannot be guaranteed.

*Opening your IFISA account and beginning your cool off period is dependent on your acceptance of the Terms and conditions and the Information Memorandum document, which you must do within our platform.

After Investment


Cool off Period

All investments with Northern Provident Investments are subject to a 14 day cool off period. During this period even if cleared, your funds will not be allocated to the issuer and will not be invested in the underlying product linked to the IFISA account. This 14 day period is provided to ensure that you have adequate time in which to consider your investment and is the only time during which your investment can be cancelled and your funds returned free of charge.

Possible exceptions:
Some issuers draw down cleared funds and investors begin to earn interest within the 14 day cool off period however this does not affect the right to cancel and remove funds. Secondary investments made by an existing investor in a product they have already invested in, may not be subject to the 14 day cool off period. This is dependent on the time frame between investments and if there have been any changes to the product in that time.


Awaiting Drawdown

The working day after the end of your cool off period, your cleared funds are allocated by Northern Provident Investments to the issuer of the underlying investment product. The issuer of the underlying investment product will draw these funds down on the date of the next scheduled draw down. These drawdown dates are detailed within the Information Memorandum document and usually are either once a week, or twice a month.


Drawn down

From the date of drawdown your funds are invested in the underlying investment product and you will begin to accrue the entitled interest from this date. The issuer will send to you a Bond certificate or contract note, confirming your investment in their product. Earned interest will be paid to you by the issuer on the prescribed dates detailed within the Information Memorandum document.

They will pay these funds either directly to you or into your IFISA account at Northern Provident Investments and we will provide you with the facility to either withdraw the funds, transfer the funds to an ISA account away from NPI (Fees apply), or reinvest the funds in an NPI IFISA offering (if the amount meets the required minimum investment). At the end of the Bond term, the issuer will return your investment plus any owed interest into your IFISA account at Northern Provident Investments and we will provide you with the facility to either withdraw the funds, transfer the funds to an ISA account away from NPI (Fees apply), or reinvest the funds in an NPI IFISA offering (if the amount meets the required minimum investment).