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Newbie question - Moving cash from ISA to ISA
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DonC
Posts: 84 Forumite


I have some cash that I would like to put in a stock ISA but would like to take a look around at the options available.
If I put my cash into a stock ISA I already have, would I be able to move it at a later date?
Thanks
If I put my cash into a stock ISA I already have, would I be able to move it at a later date?
Thanks
0
Comments
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You can transfer from a cash ISA to a S&S ISA but you cant transfer it back. Always worth keeping some in a cash ISA if you have no other emergency savings.Living the good life spending all my money but loving it!!0
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You can transfer from a cash ISA to a S&S ISA but you cant transfer it back. Always worth keeping some in a cash ISA if you have no other emergency savings.
Thanks for the reply.
I was thinking more of moving it to one S&S ISA provider to another S&S ISA.
ie I've got some funds with Legal and General, say I found some good deals with Hargreaves Lansdowne or on a fund supermarket, would I be able to buy the funds \ stocks using the cash I had in L&G?0 -
Thanks for the reply.
I was thinking more of moving it to one S&S ISA provider to another S&S ISA.
ie I've got some funds with Legal and General, say I found some good deals with Hargreaves Lansdowne or on a fund supermarket, would I be able to buy the funds \ stocks using the cash I had in L&G?
You can transfer your L&G funds to a Hargreaves Lansdowne S&S ISA as cash and then buy other funds from HL.
Just get a form from HL, fill it in and they'll do the transfer, or give them a ring and they'll explain the process.0 -
You can transfer your L&G funds to a Hargreaves Lansdowne S&S ISA as cash and then buy other funds from HL.
Just get a form from HL, fill it in and they'll do the transfer, or give them a ring and they'll explain the process.
how does the process take place. say i have a S&S ISA worth say £10,000 and want to transfer it to a different provider. i ask the new provider to transfer the ISA. does the fund get sold and then the cash transferred to the new provider or do the stock holdings get transferred as a whole?0 -
You have the option to do both with most providers, although best to transfer the 'funds' across so that you dont lose any growth/ income during the transfer process if you are keeping the same investments.Living the good life spending all my money but loving it!!0
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on this note, just another question.
how does the process take place. say i have a S&S ISA worth say £10,000 and want to transfer it to a different provider. i ask the new provider to transfer the ISA. does the fund get sold and then the cash transferred to the new provider or do the stock holdings get transferred as a whole?
As a7 says, you should be able to do both. I did this last year, but L&G wouldn't allow the stock transfer to take place to another ISA with HL, so I had to sell and transfer as cash.
They would allow a transfer of stock/fund from non-ISA to another non-ISA. Additionally HL would want to charge a 0.50% annual charge on the L&G ISA funds because they wouldn't get any commission from L&G. They did warn me about this and suggested it wasn't a good idea to transfer as stock/fund.
I wasn't bothered anyway. The L&G funds were doing very badly being UK, and I bought into a lot of very profitable emerging market funds.0
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