While all ISAs are required to allow you to transfer out there is not currently a requirement that an ISA has to allow transfers in. Therefore whether you are thinking of a Barclays ISA transfer either in or out you will need to first confirm that the specific Individual Savings Account (ISA) you wish to move to permits transfers in.
It is now possible to transfer different types of ISA within each other, for example you could transfer an Investment ISA to a Cash ISA or the other way around, which can be useful if you decide to change how you want to use your money within an ISA.
Transferring an ISA can be a good idea if you feel your money would work for you better elsewhere, either into another ISA with same provider or a different one.
In order to carry out an ISA transfer, once you have found the ISA product you wish to transfer to and confirmed that it does allow transfers in. Once you open the account you will need to complete and send an ISA transfer. You’re new and current ISA providers will then arrange for the ISA transfer to occur, once the transfer has been completed the previous ISA manager will give the new manager a written notice called ‘transfer history form’ your new provider should be contact with you once the transfer has been completed.
Whatever sort of ISA you are interested in transferring to it may be worth shopping around different providers first, to try and make sure you find the products that suits your need. You can use the tables on this website to view a selection of ISAs from different providers, some of which may permit transfers in.
This website contains information only and does not constitute advice or a personal recommendation in any way whatsoever. The value of investments and income from them can fall as well as rise and you may not get back the full amount invested. The tax efficiency of ISAs is based on current tax law and there is no guarantee that tax rules will stay the same in the future.
Different types of investment carry different levels of risk and may not be suitable for all investors. Please ensure that you read the Important Risk Information for further details. Prior to making any decision to invest, you should ensure that you are familiar with the risks associated with a particular investment and should read the product literature. If you are in any doubt as to the suitability of a particular investment, both in respect of its objectives and its risk profile, you should seek independent financial advice.
15th March 2021
You've decided to invest your savings into a Stocks and Shares ISA. You'll be using your tax-free ISA allowance for this year before the deadline, while also investing your money for your future. But what do you need to consider before opening an account? We've put together a list of our top five considerations for you to think about before you click "apply".
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I found the way the different options are presented very clear - much more useful than some other comparison sites. I sent it to my daughter as well.
Very informative, find myself a good ISA account with best return in terms of interest.
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ISA can be confusing at first and this site includes a useful and helpful introduction into the world of ISAs