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Transfer ISA for cash-back

I have an offer of cash-back if I transfer an existing ISA to my 23-24 tax yr provider.

Bit naughty, but if I setup a 24-25 tax yr no strings cash ISA with a new provider now, can I transfer that out almost as soon as it is setup?

Are there normally any restrictions on minimum times held before transfer, etc.

Comments

  • refluxer
    refluxer Posts: 3,436 Forumite
    Fifth Anniversary 1,000 Posts Photogenic Name Dropper
    edited 23 April 2024 at 10:20AM
    The only cashback I've received from an ISA transfer was with Santander - you didn't need to have held the ISA for any particular length of time, but the main restrictions were that it needed to have a minimum value of £10k and it needed to be a full (not partial) transfer.

    Different providers will have their own list of criteria though, so you just need to read the cashback T&Cs very carefully to ensure you qualify, as they will detail any restrictions or limitations. You'd obviously also need to open a new ISA without any withdrawal penalties (so an easy access ISA would be sensible).

    Which company are we talking about ?
  • otherwayup
    otherwayup Posts: 89 Forumite
    Part of the Furniture 10 Posts Combo Breaker
    I'm thinking of opening a cash 'Club Lloyds Advantage ISA Saver' which doesn't appear to have restrictions/fees if I then want to transfer it to my existing S&S ISA provider offering cash-back.
    Any known issues/horror stories from people transferring ISAs out of Lloyds ?
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