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ISAs Explained /

How do I Transfer an ISA?

It's possible to transfer ISAs between providers
Peer to Peer Lending ISAs

Premium Innovative Finance ISA (IFISA)

from easyMoney

ISA Option
Allows ISA Transfers
Interest Rate 4.05% annualised target return
  • Term: No Fixed Term
  • Invest From: £1000

Why we like it: Invest up to £20,000 this tax year and/or transfer in from an existing Cash ISA, Stocks & Shares ISA or IFISA. When you join the easyMoney family you will automatically become an easyMoney plus card member, offering savings up to 55% at over 100 of Britain’s biggest retailers and more! e-Money Capital Ltd trading as easyMoney is authorised and regulated by the FCA (FRN 231680). As with all investing, your capital is at risk when you lend to businesses and returns are not guaranteed. No FSCS. For more details please refer to our full risk statement.

  • 4.05% TAX-FREE through the Conservative Innovative Finance ISA
  • Minimum investment of £1,000
  • Secured by UK property
  • Maximum 65% loan to value
  • Significant buffer of 35% should the value of a property fall
  • you will automatically become an easyMoney plus card member, offering savings up to 55% at over 100 of Britain’s biggest retailers and more!
  • Also accepts ISA transfers from previous year's ISA's
  • As with all investing your capital is at risk when you lend to businesses. easyMoney reduces this risk by taking security over property
  • Returns are not guaranteed and your actual returns may vary
  • Capital is at risk
  • Must be aged 18 or older
  • Peer to peer lending is not covered by the FSCS

Calculate your interest with this plan

Your savings:
£
You could gain:
£0.00 (per tax year)
Share Dealing ISAs

Youinvest ISA

from AJ Bell

  • Trade From (frequent trader rate): £4.95
  • Trade From (standard trader rate): £9.95

Why we like it: Voted ‘Best ISA Provider 2017’ in the City of London Wealth Management Awards. Place 10 deals or more per month and pay only £4.95 per online deal in the next month. Deal from £1.50 and never pay more than £9.95 per online trade. Capital at risk

Investment Income Plan ISAs

FTSE Monthly Contingent Income Plan

from Meteor

Allow ISA Transfers
Annual Income Up to 7.20%
  • Counterparty: Citigroup
  • Term: Up to 10 Years

With the current record low interest rate environment, income is high up on the agenda for many investors and so the ability to receive 7.2% per year even if the FTSE falls by up to 15%, is certainly worth a closer look.

  • Potential monthly income: 0.60% (equivalent to 7.20% annually) if the FTSE doesn't drop by more than 15%
  • Income paid even if FTSE 100 falls by 40%
  • Alternative options also available paying up to 4.8% pa if the FTSE doesn't drop by more than 35%, or 5.7% pa pa if the FTSE doesn't drop by more than 25%
  • Potential to kick out quarterly from year 2 onwards
  • Available for ISA, ISA transfers and direct investments
  • Capital is at risk if the FTSE 100 Index has fallen by more than 35% at maturity from it's initial level, in which case your initial investment will reduce by 1% for each 1% fall
  • Minimum investment £5000
  • An arrangement fee applies to this plan
  • Product designed to be held for the full term

Important Information: Structured investment plans are not capital protected and are not covered by the Financial Services Compensation Scheme (FSCS) for default alone. There is a risk of losing some or all of your initial investment due to the performance of the underlying investment. There is also a risk that the company backing the plan known as the Counterparty may be unable to repay your initial investment and any returns stated.

FTSE 100 Defensive Income Plan

from Investec

Allow ISA Transfers
Annual Income up to 6.40%
  • Counterparty: Investec Bank
  • Term: Maximum 8 years

If you’re looking for high income, then the ability to receive 6.40% per year even if the FTSE falls almost 20%, could be appealing.

  • Up to 6.40% per year based on the performance of the FTSE 100 Index
  • Income paid even if Index falls by 20%
  • Quarterly payments
  • Alternative option also available paying up to 4.80% pa if the FTSE doesn't drop by 40% or more
  • Capital is at risk if the FTSE 100 Index has fallen by more than 40% at maturity from it's initial level, in which case your initial investment will reduce by 1% for each 1% fall
  • Minimum investment £3,000
  • An arrangement fee applies for this plan
  • Product designed to be held for the full term

Calculate your interest with this plan

Your savings:
£
You could gain:
£0.00 (per tax year)

Important Information: Structured investment plans are not capital protected and are not covered by the Financial Services Compensation Scheme (FSCS) for default alone. There is a risk of losing some or all of your initial investment due to the performance of the underlying investment. There is also a risk that the company backing the plan known as the Counterparty may be unable to repay your initial investment and any returns stated.

Investment Growth Plan ISAs

FTSE 100 Enhanced Kick Out Plan

from Investec

Allow ISA Transfers
Maximum Potential Return 9.25% per annum
  • Counterparty: Investec Bank plc
  • Term: Up to 6 years

Kick out plans seem to attract particular interest when the market is at historically high levels since they can provide competitive returns even if the FTSE stays relatively flat with the potential for 9.25% annual growth.

  • 9.25% for each year (not compounded) provided the FTSE 100 finishes higher than its starting value (subject to averaging)
  • Potential to mature early, from year 1 onwards
  • Available for ISA, ISA transfer and direct investment
  • Capital is at risk if the FTSE 100 Index has fallen by more than 40% at maturity from it's initial level, in which case your initial investment will reduce by 1% for each 1% fall
  • Minimum investment £3,000
  • Product designed to be held for the full term

Important Information: Structured investment plans are not capital protected and are not covered by the Financial Services Compensation Scheme (FSCS) for default alone. There is a risk of losing some or all of your initial investment due to the performance of the underlying investment. There is also a risk that the company backing the plan known as the Counterparty may be unable to repay your initial investment and any returns stated.

How Do I Transfer an ISA?

There are a number of reasons a person may want to transfer an ISA, such as finding they could achieve a better interest rate with a different provider or to consolidate your money together to make it easier to manage, however it is important to try and ensure you follow the correct transfer process so as not to miss out on some of your annual ISA allowance.

All ISAs have to allow you to transfer to another provider, but they may impose a penalty for doing so. However providers do not have to allow transfers in. Once you have found an ISA you would like to switch to and checked that it permits transfers then you will need to complete and send the ISA transfer form, you’re new and previous ISA providers will then arrange for the ISA transfer to happen, once transferred the previous ISA manager will give the new ISA manager a written notice containing information and a declaration which is known as a transfer history form, your new provider will contact you once the transfer is complete.

Transferring between ISA types

It is now possible to transfer from between different ISA types for example from a Cash ISA into a Stocks and Shares ISA or vice versa. When transferring between from a Cash ISA into another Cash ISA the process should be completed within 15 working days.

Industry guidelines currently recommend that the transfer process when involving Stocks and Shares ISAs should take 30 days from start to finish. But as this kind of ISA can include a range of different investments each potentially taking different amounts of time to close or sell it could take longer than 30 days for a provider to prepare the money within the account to be transferred.

Before you transfer,

It is a good idea to shop around to try and find the best product for needs. If your current ISA provider would impose a penalty for transferring and you are moving to another provider to achieve a better rate of interest on your savings then you may wish to first work out if the penalty would negate the potential benefits of changing provider. 

Important Risk Information:

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.

High Income ISAs

High income ISA ideas:

ISAs Products

Cash ISAs

Fixed Rate & Instant Access ISAs:

Cash ISAs: 

Stocks & Shares ISAs

Types of Stocks and Shares ISA include: 

Stocks and Shares ISAs

Latest News

How much can I pay into an ISA?

21st March 2019

Each tax year, there's a limit set by the government to the amount you can save and invest in ISAs: your “annual ISA allowance”. The allowances are intended to reward savers and encourage us to invest more to support our future retirements, without creating a tax haven that can be taken advantage of by very wealthy individuals who just want to avoid paying tax.

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