Uninvested cash in a Stocks & Shares ISA

edited 30 November -1 at 1:00AM in ISAs & Tax-free Savings
2 replies 2.6K views
mac321mac321 Forumite
6 Posts
edited 30 November -1 at 1:00AM in ISAs & Tax-free Savings
I have £3K uninvested cash in an old PEP (now a Stocks & Shares ISA)

Can I transfer this uninvested cash into another Stocks & Shares ISA ?
(I have an existing self-select Shares ISA)

Or, as I suspect may be the case, do I have to be invested in shares before I can do any transfer.

Haven't been able to find an answer to this in the forum or the ISA articles.

Thanks.

Replies

  • dunstonhdunstonh Forumite
    106.7K Posts
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    Can I transfer this uninvested cash into another Stocks & Shares ISA ?

    yes
    Or, as I suspect may be the case, do I have to be invested in shares before I can do any transfer.

    No.

    A transfer changes the investments to cash anyway. You are already in cash so it saves a bit of work. I think you are mistaking re-registration with transfer.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • JM_2JM_2 Forumite
    58 Posts
    Part of the Furniture 10 Posts Combo Breaker
    mac321 wrote: »
    I have £3K uninvested cash in an old PEP (now a Stocks & Shares ISA)

    Can I transfer this uninvested cash into another Stocks & Shares ISA ?
    (I have an existing self-select Shares ISA)

    Or, as I suspect may be the case, do I have to be invested in shares before I can do any transfer.

    Haven't been able to find an answer to this in the forum or the ISA articles.

    Thanks.



    Hi,

    If you have an existing Self Select ISA

    Both the Cash and the Stocks and shares held in that Plan can be transferred. The Whole plan can be transferred. Your securities do not have to be sold first.

    Usually there is a charge for closing the account and also a charge for each security transferred.

    Also remember that it takes a while for the transfer to go through.

    So you cannot deal in your securities until they are registered in you new Plan Manager's nominee name.

    Cash is usually transferred fairly quickly.

    JM2
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