Stocks & Shares Transfer to Cash ISA

theGrinch · 29 May 2015 at 8:21AM

I was looking at a Nationwide ISA with a rate of 1.40%.

I currently have £20,000 in a stocks and shares ISA in cash.

Is it possible to transfer it from its current location to a cash ISA?

Has anyone done something similar and how long did it take?

Many thanks

le_loup · 29 May 2015 at 8:57AM

Yes.
There are certan conditions in that if any of the money was invested in the current tax year, the transfer can only be for all of the current year.

theGrinch · 29 May 2015 at 2:30PM

le_loup wrote: »

Yes.
There are certan conditions in that if any of the money was invested in the current tax year, the transfer can only be for all of the current year.

thanks

these funds date to 2011/12, 2012/13 and 2013/14 allowances

my current year's isa allowance was fixed recently with a different bank.

le_loup · 29 May 2015 at 3:41PM

So it's fine to transfer the 20k.
If it's sitting in the S&S ISA as cash then the transfer should only take a couple of weeks - faster if the old and new providers can do it electronically.
Don't forget, you have to get the new cash ISA provider to do the transfer.

Stocks & Shares Transfer to Cash ISA

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