Transfer cash from S&S ISA to a cash ISA?

danthemoneysavingman

Can this be done and if so, how?

I had to cash in all my funds in an H&L S&S ISA, but now have the cash sitting there and not sure how best to move it out and keep ISA tax-free status.

I need it as cash for now.
Can this be done? or do I need to move it out of the ISA wrapper?

thanks

eskbanker

danthemoneysavingman wrote: »

Can this be done and if so, how?

Yes:

1. Pick a cash ISA that accepts inbound transfers.
2. Open it.
3. Complete new provider's ISA transfer form.
4. Wait.

danthemoneysavingman

but there appears not to be a sort code and account number for the Hargreaves Lansdown account.

So... any better advice please anyone?

Perhaps I've failed to find it...

eskbanker

danthemoneysavingman wrote: »

but there appears not to be a sort code and account number for the Hargreaves Lansdown account.

So... any better advice please anyone?

Perhaps I've failed to find it...

Why are you looking for it?

S&S ISAs don't have sort codes and account numbers (at least not in standard bank format), but they're not prerequisites - ISA providers will typically either use a different S&S transfer form or a separate section within the same generic form, via which you specify the S&S ISA institution and unique identifying info for your account, plus more detailed instructions about exactly what you want to transfer and when.

Which provider are you trying to transfer to?

danthemoneysavingman

Coventry BSoc. Requires this info in the application if you want to transfer.
Couldn't proceed without providing s/c & a/n or roll number.

eskbanker

danthemoneysavingman wrote: »

Coventry BSoc. Requires this info in the application if you want to transfer.
Couldn't proceed without providing s/c & a/n or roll number.

So you completed a printout of their transfer form without including that (non-existent) data, posted/took it in and they got back to you to say they needed it? Did you point out that they say they'll accept transfers from S&S ISAs at https://www.coventrybuildingsociety.co.uk/consumer/help/savings/isas/isa-transfers.html and ask exactly how they do so?

danthemoneysavingman

It's an online application

Vortigern

danthemoneysavingman wrote: »

It's an online application

Sort code: 000000 or 00-00-00
Account number: 00000000
Roll No: Your HL client ID

eskbanker

danthemoneysavingman wrote: »

It's an online application

Fair enough - their transfer page linked above suggests that it's a paper-only process but they've presumably caught up with the 21st century now!

It does look like their process is heavily geared towards transfers from cash ISAs so if transfers from S&S ISAs are the exception rather than the rule (to be fair this probably applies to any cash ISA provider) then there may need to be a bit of bending/tweaking of the process to make it work.

So, it seems you have three options:

1. Improvise, with zeroes in any mandatory field except the unique HL account number - as I understand it, such forms are processed manually anyway, so if this is an issue they'll presumably contact you.
2. Contact them in branch or by phone to seek advice.
3. Wait for someone on here to post with actual experience of having done this....

danthemoneysavingman

Cheers, worth a punt. Thx for your thoughts on this.
Dan