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Stocks & Shares ISA to Fixed Rate Cash ISA?
Speedbird01
Posts: 2 Newbie
Hello, I'd like to open a two-year fixed rate cash ISA, opening with £20,000 cash for this year and transfering in a couple of stocks & shares ISAs from previous years. Any experience or tips for this? TIA.
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Comments
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Pick one that allows transfers in and do it!
It's very simple to do - the new provider handles the transfer, so you tell them on application the details of your existing ones.
Top rates: https://moneyfactscompare.co.uk/savings-accounts/1 -
If you are doing a full transfer I think the S&SISA provider will sell all of your funds to cash (check this). If you are doing a partial transfer you would need to sell enough funds to have the appropriate amount of cash in the S&SISA ready for the transfer.Speedbird01 said:Hello, I'd like to open a two-year fixed rate cash ISA, opening with £20,000 cash for this year and transfering in a couple of stocks & shares ISAs from previous years. Any experience or tips for this? TIA.'Compound interest is the eighth wonder of the world. He who understands it, earns it; he who doesn’t, pays it' - Albert Einstein.1 -
Expect the S&S ISA transfers to take longer than you think - Vanguard are dragging their feet even though my funds were already sitting as cash in the S&S ISA.1
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AgreedHal17 said:Expect the S&S ISA transfers to take longer than you think - Vanguard are dragging their feet even though my funds were already sitting as cash in the S&S ISA.
@Speedbird01 needs to check the T&Cs of the 2 Year FR Cash ISA. How long is the funding timescale?Another option is to open the new FRISA & fund with £20k to secure the rate.
At the same time, instruct S&S ISA provider(s) to convert all holdings to cash
Open an Instant Access Cash ISA and ask the provider to xfer in cash from S&S provider(s)
When both have been credited, open another 2 Year FRISA & arrange xfer from IA Cash ISA1 -
Great advice thanks. Will open hi-rate 2yr FRISA with cash then transfer in a couple of S&S ISAs.0
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Speedbird01 said:Great advice thanks. Will open hi-rate 2yr FRISA with cash then transfer in a couple of S&S ISAs.
Will that be the Natwest 2 year ISA at 5.90%.
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