In order for existing Orca clients to invest via an Orca ISA, this is the process that will be followed:
Step 1. You request to convert your Orca Account into an Orca ISA. This can be done simply by following this link here. (please note: you will have to log in to your Orca Account)
Step 2. You accept the T&C’s and provide your NIN.
Step 3. Orca will be notified of your request and will send you an email with further details on the process and timescale.
Step 4. We allow a 48h cooling off period should you change your mind and decide not to proceed. In this instance, please contact us promptly to cancel the request to convert your account.
Step 5. After the cooling off period, if we haven’t heard from you, we will initiate the full sale of the loans at the P2P platforms within your portfolio.
Step 6. Once the sale is complete or after 25 days from initiating the withdrawal, whichever occurs first, we will send the cash back to your Modulr bank account. From this moment, your ISA will be opened.
Step 7. We will deposit your funds at the P2P platforms within your new Orca ISA portfolio, at the specified allocation.
Step 8. Your funds will be re-invested at the underlying P2P platforms.