Transfer cash out of a self select ISA to a cash ISA.

TonyManse

Hello everyone. Thanks for looking at this. I have cash in a self select ISA but I don't want to invest in any more shares and I don't want to sell all my other shares to close the account. SO : Does anyone know of a company that has a cash ISA that will allow a partial cash transfer from a stocks and shares ISA? So far I only seem to find ones that will require the closure of the Select ISA. Many thanks

Doctor_Who

Depending on the S&SISA provider they may or may not allow partial transfers out, so you first need to determine whether your ISA provider allows this or not. There are ways to hold cash within a S&SISA, for example a short term money market fund tracking SONIA is very 'cash-like'.

Beddie

As the Doctor said, check with your current provider if they allow partial transfers out. Most cash ISAs partial allow transfers in.

As he also says, you could just use a short term money market fund and get over 5%:

https://www.hl.co.uk/funds/fund-discounts,-prices--and--factsheets/search-results/r/royal-london-short-term-money-market-class-y-accumulation

Almost as safe as cash, but not quite, with a nice steady cash-like return.