Isas which allow transfers in

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You do not pay any extra and the deal you get is not affected. See more guides. It is tougher than ever to make money from your savings, but you could get a better return if you expand your search for interest. Here are your options. Whether you have a cash ISA or are thinking of getting one, you should consider if it's still a good place for your money.

Here is how to work out if ISAs are still worth saving into. Knowing what to do with savings can be difficult, especially when rates are so low. Here is what you can do if you have money to invest. Comparing savings accounts could save you money. Our multiple award-winning comparison service makes sure you get the lowest fees and rates possible based on your individual circumstances.

Our aim is to provide you with the most up-to-date information, as well as useful tools and calculators so to help you make life's most important decisions and take control of your money.

We have always aimed to provide the best possible services to bridge the gap between our users and our clients. Over the years, we have been thrilled to be recognised by various prestigious bodies and organisations for those efforts. Branch savings accounts. Cash ISA transfer. Cash ISAs for over 60s. Junior ISA.

Lifetime ISA. Monthly interest savings account. Regular saver cash ISAs. Regular savings accounts. Self select ISA. Explore the topic Income Tax Tax on savings and investments. Is this page useful? Maybe Yes this page is useful No this page is not useful. Thank you for your feedback. Report a problem with this page. What were you doing? What went wrong? Yes you can. You hear this referred to as consolidating your ISAs. Alternatively you can sell the investments, making sure you keep the cash within your ISA.

This cash will then be moved to your new ISA ready for you to pick new investments. People often switch from one type of ISA to another. People transfer ISAs for many reasons. Often they can see a better opportunity elsewhere, for example an ISA offering a higher-cash interest rate, a wider choice of investments or lower fees.

They might want to move all their ISAs to the same provider or keep different accounts — for example an ISA and a pension — under one roof. While you are entitled to transfer your ISA from your current provider, not all providers accept transfers into their ISAs so do your homework. Will you lose out by transferring your ISA? For example will you face a penalty or lose interest when you transfer? Check with your provider before kicking off a transfer.

Do bear in mind that if your existing ISA provider charges an exit fee, your new provider may cover the cost. From July , it has also been possible to transfer from a stocks and shares Isa to the safety of a cash Isa without losing the Isa status on your money.

You can do this as many times as you like. As with other types of Isa transfer, you will need to contact the cash Isa provider you would like to transfer to and complete its transfer form. If you would like to complete a partial transfer, selling some investments in order to transfer the proceeds to a cash Isa but leaving others invested, bear in mind that the transfer form may not give you this option.

If this is the case, you will need to either include a covering letter stating your instructions with your transfer form or contact your stocks and shares Isa provider separately in order to make your intentions clear.

Contacting your stocks and shares Isa providers in more-complex scenarios should minimise the possibility of any misunderstanding. It should also be noted that many stocks and shares Isa providers allow investors to hold cash on a temporary basis within a stocks and shares Isa while they are out of the market.

This option should continue but, as before, interest rates will usually be negligible, and the option should not be confused with a cash Isa. Money has found that parts of the investment industry are coming up short when it comes to efficiency and swift transfer processes — we've even found some examples of transfers taking more than 10 weeks to complete.

But your choice of Isa provider can make a real difference to your returns, with charges and investment choice just two factors to consider when making sure you are using the right one for you. Here, we take you through the steps you need to follow when transferring to ensure everything goes through as quickly and efficiently as possible.

There are plenty of stocks and shares Isa providers to choose from, and most DIY investors those not using a financial adviser will use an investment platform. We have put together a series of reviews of various investment platforms which could help you make your decision. If you're happy with your investments, opt for a stock transfer. If you want to start afresh, go for a cash transfer.

If you would prefer to transfer to the safety of cash, it is now possible to transfer to a cash Isa without losing the Isa status on your money. If you transfer as stock known as an in-specie transfer , your investments will be re-registered as they are and you won't be out of the market. With a cash transfer, your investments will be sold and the proceeds passed to your new provider for them to reinvest in line with your instructions.

This approach might be cheaper, as many investment platforms levy a transfer charge for every line of stock you hold. However, you'll suffer from the bid-offer spread between the selling and buying prices, and you'll also spend time out of the market, which means you could miss out on beneficial movement in prices.

Once you've selected your new provider, you will need to contact it and complete its transfer form. Most will offer the option to download the form online, but it will be necessary to print off and send the form through the post as most providers will want a 'wet' signature. If all goes to plan, your new provider will organise everything from here and tell you when the transfer is complete. It's possible that your old provider will charge you exit fees, especially if you have opted to transfer as stock.