Transfer from stocks & shares ISA to cash NISA

Full_of_curiosity

I have been saving £50 a month into a sticks & shares ISA for years now with BNY Mellon - does anyone happen to know if they charge a fee to transfer out to a cash NISA somewhere else?
Thank you

C_Mababejive

Do you deal directly with them or via a fund supermarket?

I think your S&S ISA will automatically become a NISA.

Archi_Bald

C_Mababejive wrote: »

I think your S&S ISA will automatically become a NISA.

If you mean by that that it will pay interest for cash, that is not so. None of the providers is obliged to offer a combined S&S and cash ISA, and most of the S&S providers are unlikely to offer it. In the same way as most of the cash ISA providers won't be providing S&S ISAs, let alone a combined cash and S&S ISA. Where an S&S provider does offer interest for cash held, it is likely to be significantly worse than even the worst cash ISA, not least because those providers have no lending arms to make use of the cash and to be able to afford to pay interest.

In answer to the OP's question: it is down to the provider, there is no general rule. What do your T&Cs say? If they haven't been updated yet, what do BNY say when you ask them?