Transferring S&S ISA to Cash ISA

numbercruncher

Wishing to transfer out of S&S ISA held with InvestEngine and transferring to a cash ISA already open with Virgin Money. Does anyone know if I have to sell the etfs on InvestEngine and hold in cash there before initiating the transfer to Virgin? Any help much appreciated.

Exodi

I mean, the simplest option (assuming your allowances allow it - you haven't stated any amounts in your post so obviously it's not possible if you have £100k in your S&S ISA as opposed to £1k) would be to just sell the ETF's on IE, withdraw the cash and then deposit it in the Cash ISA on Virgin.

If you do want to do a transfer, you can do either, though for the sake of simplicity I'd just sell them and initiate the transfer, depends if you value being invested for an extra week or two.

Beddie

Yes, you need to sell the investments before the transfer can take place. I'm sure InvestEngine will confirm what timescales apply if you ask them.