LISA transfer fees

snowqueen555

It is a shame you get charged to transfer out. I have been charged £55 to move from HL to Skipton and did not factor this in. It is also annoying how HL don't tell give you a statement to show the fee being taken i.e. no record.

Is this a standard thing across other banks/building societies and with All ISA's?

eskbanker

snowqueen555 wrote: »

Is this a standard thing across other banks/building societies and with All ISA's?

No, it's increasingly unusual and is likely to be outlawed at some stage in the future, but for now at least, investment platforms (HL aren't a bank/building society) are allowed to charge them.

They must disclose them though (as HL do at https://www.hl.co.uk/investment-services/lifetime-isa/charges) and you can see an overview of which platforms levy exit fees at https://monevator.com/compare-uk-cheapest-online-brokers/