5. Transferring your ISA
You can transfer your Individual Savings Account (ISA) from one provider to another at any time.
You can transfer your savings to a different type of ISA or to the same type of ISA.
If you want to transfer money you’ve invested in an ISA during the current year, you must transfer all of it.
For money you invested in previous years, you can choose to transfer all or part of your savings.
If you transfer cash and assets from a Lifetime ISA to a different ISA before the age of 60, you’ll have to pay a withdrawal fee of 25%.
Restrictions on what you can transfer
You can transfer cash from your innovative finance ISA to another provider - but you may not be able to transfer other investments from it.
Check with your provider for any restrictions they may have on transferring ISAs. They may also make you pay a charge.
How to transfer your ISA
To switch providers, contact the ISA provider you want to move to and fill out an ISA transfer form to move your account. If you withdraw the money without doing this, you won’t be able to reinvest that part of your tax-free allowance again.
Deadlines and complaints
ISA transfers should take no longer than:
- 15 working days for a cash ISA and a cash Lifetime ISA
- 30 working days for a stocks and shares ISA, investments held in an innovative finance ISA and stocks and shares in a Lifetime ISA
If your transfer takes longer than this, contact your ISA provider.
If you’re unhappy with the response, you can take the matter up with the Financial Ombudsman Service.
Financial Ombudsman Service
Telephone (for landlines): 0800 023 4567
Telephone (for mobiles): 0300 123 9123
Monday to Friday, 8am to 8pm
Saturday, 9am to 1pm
Find out about call charges