Transferring old S&S ISA into multiple cash isas

learjet

Hello everyone,
I have a lot of cash sitting in a stocks and shares ISA which I want to transfer out to new cash ISAs now the interest rates are a little better. I cannot find a definitive answer (so far) as to whether this is allowed. I know the old money does not count towards the years allowance but can I open up new cash isas with multiple providers to take this old money? I don't want to transfer all the cash to one provider/isa as it will be more than £80k in that case.I would prefer, say, £40k across 3 or 4 providers. Is this ok?

Thanks in anticipation.

Beddie

Yes it is fine, I have done similar myself. Just check your current provider allows partial transfers out, as some do not. 

You simply  tell each of the new providers how much you want to transfer to them, as part of the application process.

learjet

Thank you.

Confusedlad

Just an additional thought, as I recently faced similar. Fidelity (where my S&S ISA was) will NOT permit partial transfers out.  You have to transfer it all to say an instant access cash ISA (first) , then Divi it up (to avoid having too much with the same institution). What a faff!  Asked why partial transfers are not permitted, I was told, " they are our rules". So instead of me transferring some, I had to move it all. Who "lost out" -  well Fidelity as they have now got none of my money!  It's the we're big you're small attitude. If others can do it why can't they do it.
I've learnt my lesson.

learjet

Yes I'll double check. Thanks. My ISA is with Hargreaves Lansdown.