Is it possible to transfer a non Flexible ISA to a Flexible ISA?

Éireman

Hi, is it possible to transfer a non flexible ISA into a flexible ISA?

I want to put money into a fixed rate ISA for the next 12 months but then transfer it to a flexible ISA (possibly stocks and shares) once the fixed rate comes to an end.

Thanks.

eskbanker

Yes, subject to the usual transfer provisos, i.e. that the receiving product accepts inward transfers and that it's conducted via the receiving provider's ISA transfer process.

gravel_2

Yes.Flexibility has no bearing on transfer - it's purely a function of withdrawing from and replenishing to the same account during the same tax year.

Just ensure you don't transfer during your fix without understanding the penalties associated (normally a chunk of interest is lost, like 90 days or 180 days).

Veteransaver

Yes but is there much point as it's 5th April tomorrow?
The flexibility only applies in the relevant tax year. 

gravel_2

Veteransaver said:

Yes but is there much point as it's 5th April tomorrow?
The flexibility only applies in the relevant tax year. 

They are talking about taking out a flexible ISA 12 months from now.