It can sometimes be beneficial for a saver to transfer their Cash ISA, particularly if they could achieve better interest rates elsewhere or want to change how they can save. However, not all ISA accept transfers in. It is therefore wise to shop around to try and find the best cash ISA transfers available.
You can use comparison tables on this website to compare a selection of different ISAs from different providers, some of which may permit transfers. You can click the more info links to find out more about each product.
Aside from accepting transfers, what makes a cash ISA best for one individual can be subjective to how they wish to save, for example how easily they would like to be able to make withdrawals.
Types of Cash ISA include:
Once a saver has identified the ISA they wish to move to and checked that the account accepts transfers. They need to contact provider of the ISA they wish to and complete and an ISA transfer form. Once this has been received the new provider will contact the current ISA provider and arrange for the transfer to be carried out, once the transfer has been completed the account holder will be notified by their new ISA provider. Industry guidelines state that transfers involving just Cash ISAs should be completed within 15 working days or 30 working days for transfers that involve an Investment ISA.
It is now possible to transfer between different types of ISA such as from an Investment ISA to a cash ISA or vice versa.
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.
22nd June 2020
With UK interest rates at a record low, if you are seeking income we have selected our 5 top picks that provide monthly, quarterly or bi-annual income payments to investors within an ISA.
Sign up to our Newsletter to get exclusive news and offers direct to your inbox.
ISA.co.uk is a trading style of Fair Investment Company.
We've been comparing and recommending ISAs for many years so you can trust you're in good hands.About us
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.
Easy to use website and up to date. Saved the link on my tablet.