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: 3,139 Forumite
    1,000 Posts Fourth Anniversary Photogenic Name Dropper
    edited 23 April 2024 at 11:20AM
    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: 77 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 ?
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 350K Banking & Borrowing
  • 252.7K Reduce Debt & Boost Income
  • 453.1K Spending & Discounts
  • 242.9K Work, Benefits & Business
  • 619.8K Mortgages, Homes & Bills
  • 176.4K Life & Family
  • 255.9K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 15.1K Coronavirus Support Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.