Stocks & Shares Transfer to Cash ISA

theGrinch

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

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

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

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.