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Transferring an ISA from one provider to another whilst living abroad

WestSA
Posts: 1 Newbie
Hello all, has anyone had any success in transferring an ISA from one provider to another whilst abroad?
Legal & General will no longer be offering ISA's and I'm thus looking for an alternative provider.
The challenge I'm having is that all the providers that I've reached out to thus far are not willing to accept a transfer
Thanks and regards
Legal & General will no longer be offering ISA's and I'm thus looking for an alternative provider.
The challenge I'm having is that all the providers that I've reached out to thus far are not willing to accept a transfer
Thanks and regards
0
Comments
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WestSA said:Hello all, has anyone had any success in transferring an ISA from one provider to another whilst abroad?
Legal & General will no longer be offering ISA's and I'm thus looking for an alternative provider.
The challenge I'm having is that all the providers that I've reached out to thus far are not willing to accept a transfer
Thanks and regards
I searched for one several years ago when my son was working abroad.
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Although HMRC rules do not prohibit this,
True
https://www.gov.uk/individual-savings-accounts/if-you-move-abroad#:~:text=However, you can keep your,to the annual ISA allowance).
You can transfer an ISA to another provider even if you are not resident in the UK.
But finding a new provider ......
OP, presumably Fidelity will not accept the transfer?
https://www.legalandgeneral.com/existing-customers/investment-support/lg-announces/
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Hey, if you have a UK address, are you allowed to simply transfer ISAs using that address?Tough times never last longer than tough people.0
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owitemisermusa said:Hey, if you have a UK address, are you allowed to simply transfer ISAs using that address?1
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What would they do if he did? Seems unfair how the Banks haven't yet caught up to what the Government deem is ok.0
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juw8e7 said:Seems unfair how the Banks haven't yet caught up to what the Government deem is ok.
Having said that, it is still permitted to transfer between ISAs when abroad, as envisaged in the rules, but effectively this can only be done between accounts that are already open....2 -
WestSA said:Hello all, has anyone had any success in transferring an ISA from one provider to another whilst abroad?
Legal & General will no longer be offering ISA's and I'm thus looking for an alternative provider.
The challenge I'm having is that all the providers that I've reached out to thus far are not willing to accept a transfer
Thanks and regards
Are you saying that yours did not transfer for some reason ?0 -
A moot point on the whole then as those existing accounts would more than likely be yielding just as terrible a return hence the need to find a transfer offering better. I see how it could be confusing for someone living abroad to see that a new ISA account opening for the sole purposes of transfer-in would be impossible regardless of how HMRC words it. So in a nutshell if you are abroad then opening a new account to only transfer in what you currently have is impossible?0
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Are you really a Banker?0
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juw8e7 said:A moot point on the whole then as those existing accounts would more than likely be yielding just as terrible a return hence the need to find a transfer offering better. I see how it could be confusing for someone living abroad to see that a new ISA account opening for the sole purposes of transfer-in would be impossible regardless of how HMRC words it. So in a nutshell if you are abroad then opening a new account to only transfer in what you currently have is impossible?0
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