Transferring in stocks and shares isa

Martyn_H

I've already used my isa allowance for this year but would like to cash in a stocks and shares isa into a cash isa and then transfer in to another bank.

As banks require me to open a cash isa first with an opening deposit, I assume the deposit will tip me over the 20k allowance. 

If I choose an easy access isa, can I simply withdraw an amount equal to the opening deposit once the funds have transferred across?

Beddie

As banks require me to open a cash isa first with an opening deposit - no, they don't - you can just do a transfer.

Transfers don't affect your annual allowance. Open a Cash ISA that allows transfers in, give them the details of the S&S ISA as part of the application process and it will be done for you.

Albermarle

Martyn_H said:

I've already used my isa allowance for this year but would like to cash in a stocks and shares isa into a cash isa and then transfer in to another bank.

As banks require me to open a cash isa first with an opening deposit, I assume the deposit will tip me over the 20k allowance. 

If I choose an easy access isa, can I simply withdraw an amount equal to the opening deposit once the funds have transferred across?

When you apply for a new cash ISA, it is true that some give you the impression that you have you have to make an initial deposit, but in fact you do not.
I have a vague memory that there are a couple that actually do insist, but for sure most do not.
I think also a very small number do not allow transfers in, but again most do.

where_are_we

Recent Principality BS ISA application insisted on opening deposit within 5 working days.  I was opening it with no new money - just a transfer in. When I told them no deposit would be made within the 5 days, they replied that as long as the transfer form was received within 5 days of opening the ISA there would be no problem. This I complied with. All went well, although the transfer took almost all of the 15 days maximum indicated time.