Transferring your ISA to a better provider is easy — but do it wrong and you'll lose the tax-free wrapper permanently. Building on our ISA types guide.
Why Transfer?
Cash ISA rates drop on older accounts. S&S ISA fees vary. You might want to consolidate or switch ISA types as goals change.
How Transfers Work
Follow these steps.
- •Choose new provider and open an account
- •Complete a transfer request with the NEW provider
- •New provider contacts old provider to arrange transfer
- •Cash ISA transfers: within 15 working days
- •S&S ISA transfers: up to 30 working days
- •NEVER withdraw and redeposit yourself — you'll lose tax-free status on previous years' contributions
Types of Transfer
You can transfer between different ISA types. Cash to S&S, S&S to Cash, LISA to LISA. Partial transfers available for previous years' contributions.
Things to Watch
Check for exit fees on fixed-rate ISAs. Some S&S providers charge transfer-out fees (£25-100). Don't initiate transfers close to 5 April.
Frequently Asked Questions
Does transferring affect this year's allowance?+
No — previous years' transfers don't use current year allowance. Only new contributions count.
Can I transfer part of my ISA?+
Current year: must transfer in full. Previous years: usually partial transfers allowed.
How often can I transfer?+
As often as you like. No limits, though fixed-rate exit fees may apply.
#ISA transfer#ISA switching#ISA rates#tax-free savings#UK ISA
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