Shares ISA into cash ISA

downshifter98

Hi.

Is it possible to switch a shares ISA into a cash ISA? I assumed share ISAs just had to be closed if cash was required - Google provides conflicting answers.

Many thanks

masonic

Yes you can now transfer S&S ISAs into cash ISAs. This is a relatively recent change.

Archi_Bald

With the current interest rates, it's a different question whether such a move would actually be beneficial but you are allowed to transfer all or part of an S&S ISA to a cash ISA. You do not have to close the S&S ISA because of the transfer but you are of course free to close it if you want to.

If you want to retain the tax free status of your money, you must ask your cash ISA provider to make the transfer. You can also speed up the process by selling your shares/funds before you request the transfer, so that the cash is sitting in your S&S ISA, ready to be transferred.

steelbru

Yes you can. See the MSE ISA guide

http://www.moneysavingexpert.com/savings/ISA-guide-savings-without-tax

"Transfer rules:

Current year's cash ISA. You can move ALL of this to another cash ISA, or into a stocks & shares ISA. You can't split it between more than one provider.

Current year's stocks & shares ISA. You can move ALL of this to another stocks & shares ISA or cash ISA, but you can't split it between more than one stocks & shares ISA.

Past years' cash ISAs. You can move ALL of this to another cash ISA or into a stocks & shares ISA, or you can SPLIT it between more than one cash ISA or stocks & shares ISA.

Past years' stocks & shares ISAs. You can move ALL of this to another stocks & shares ISA or cash ISA, or SPLIT it between more than one stocks & shares or cash ISA."

downshifter98

Thanks to all and food for thought.

Downshifter98