5 things to know about ISA transfers

Each tax year you get an ISA allowance, currently £20,000, which you can invest across the different ISA types each tax year.

But what if you change your mind? What if you have used your full ISA allowance by saving £20,000 into a cash ISA, but you want to switch to a stocks and shares ISA instead. Could you?

Or you’ve found a better rate of interest elsewhere, could you switch?

The quick answer is yes – but here are 5 things to consider when you’re thinking about transferring your ISA.

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[TheRetirementCafe]

What if you have used your full ISA allowance by saving £20, 000 into a cash ISA, but you want to switch to a stocks and shares ISA instead?

[mohamedpatel]

Thank you for simplifying the small print on ISAs.

[leestorm]

HI, If I open ISA on March and put 20k then open other in April . Can I put other 20k in April new ISA. Many thanks

[sveva]

Hello! When I apply to transfer my old ISA in a new bank with better interest rates, the application form always wants me to declare that I have not opened any other ISA account for the current year. But I have already done it. I put this year allowance in a Fixed Rate Cash ISA with X bank and I don't want to transfer it. I only want to transfer my old Cash ISA to Y bank but it seems I cannot do it without opening a new account... Can I only transfer my old account to X bank? A bit confused😕 can you help me please?🙏🏼

[jellyboy]

in June my lloyds isa will drop from 5.3% to 1.3% if i make a new isa with lloyds and transfer funds from the previous tax year's ISA to a new ISA i made with lloyds would that affecting my current year's ISA allowance? also what about the interest i’ve accumulated can i transfer that too . i find this very confusing

[temptempful]

If I want to transfer previous years CashISA, does it have to be in the current financial year activa cash ISA in which I am making contribution, or it can be in othet dormant cash isa account ( i think you mentioned isa transfer is not considered as opening new account, so can it be transferred into dormant Cash isa account)?