Transferring an investment ISA to a cash ISA

dunstonh

Farway said:

jimjames said:

jojo01 said:

Albermarle said:

jojo01 said:

QrizB said:

jojo01 said:

In case it makes a difference, invesment ISA is with Quilter.

Do Quilter offer a cash ISA? If they do, would they let you transfer cash from one to the other? You can then transfer out from the Quilter cash ISA.

That's a good idea, I'll check if that's a possibility.

More googling seems to suggest that an Invesment ISA is the same as a Stocks & Shares ISA so I may be able to transfer as planned but have asked my IFA to confirm.

What a palaver!

Correct -Investment ISA is another name used by some providers for a S&S ISA.
Plenty of cash ISA providers will accept transfers in from S&S ISA.

So I can happily transfer to a cash ISA as planned. Hopefully this thread might help anyone else else who was confused by product names!

You can also hold cash funds inside your investment ISA which would probably give you a better rate and save transferring.

Depends on provider, and there may be S & S Isa fees to factor in. Just something that could nibble away at the capital.

You are correct.  However, an STMM pays about 0.2% above base.   So, if your platform charge is 0.20%, then you are getting base rate in interest.