ISA Transfer to NS&I

funtimefrank

NS&I have a good rate on their easy access ISA  but do not allow transfers in. Is there anything stopping me from withdrawing £20000 from my current ISA provider to my bank , opening an NS&I account and tranferring this money in?

ColdIron

Nothing at all assuming you haven't subscribed to an ISA already in this financial year. It will use up all of your current year's allowance but if you weren't planning on using it anyway then no problems

DavidT67

Be advised current processing time for an ISA transfer to NS&I is measured in months, during which time you won't have access to that money, nor be able to add to the ISA or make a withdrawal. 

ColdIron

NS&I do not accept transfers to their ISA from other other providers. From the OP:

funtimefrank said:

NS&I have a good rate on their easy access ISA  but do not allow transfers in

From the NS&I Summary:

• We don’t currently accept transfers from other providers into our Direct ISA.

DavidT67

They do for Junior ISAs,  but their backlog is months long and their lack of communication appalling.   
I'm extremely wary of opening a Direct ISA with them given how inept they've been.