T212 Cash ISA to S&S ISA

thevoid69

Is it easy to transfer it? I'm not sure how it all works but I'm thinking I may earn more than the interest rate on the Cash ISA doing this?

gravel_2

It's easy and instant to transfer from T212 Cash Isa to T212 S&S ISA, yes. Cash in S&S ISA earns more interest (3.85% vs 4.05%, unless you have some other intro/promo rate).

Cash in S&S ISA is not 100% in banks and therefore not to my knowledge 100% protected by the FSCS. Currently 55.57% of my cash funds on the S&S ISA are held in QMMFs rather than with banks. Not necessarily something to be scared of but worth knowing.

clairec666

Yes, it's easy and instant. Under "Manage funds" there's an option to "Move funds", where you can transfer between the two different types of ISA.

Ayr_Rage

Yes, you can do it instantly in the app.

You do get more interest on the uninvested cash balance in the Stocks ISA than the Cash ISA if you are not getting a bonus rate.

I did the same with the Invest option, just left cash there that was getting a better rate than any instant access account elsewhere.

T212 eventually sent me a subtle message that the Invest account was not for cash only, I moved my money out, what further action they would've taken is not known.

thevoid69

I'm on 4.5% for my Cash ISA so maybe not worth it. Unless you can earn more by investing it?

QrizB

thevoid69 said:

I'm on 4.5% for my Cash ISA so maybe not worth it. Unless you can earn more by investing it?

You can earn more by investing, yes.

And you can lose more.

Is this just "fun money" or would losing 20% of it cause you real problems? How about losing 80% of it?

Albermarle

thevoid69 said:

I'm on 4.5% for my Cash ISA so maybe not worth it. Unless you can earn more by investing it?

Changing from cash savings to investing, means taking more risk in the hope of more reward.

The risk diminishes and the chance of reward grows the longer you are invested.
It is recommended to hold investments for a minimum of 5 years and ideally longer than ten. Plus not to dip in and out of them.

george4064

Ive frequently transferred from T212 Cash ISA to S&S ISA, and vice versa. I find it's easy to do (once you work it out initially), and hasnt caused any problems.

thevoid69

george4064 said:

Ive frequently transferred from T212 Cash ISA to S&S ISA, and vice versa. I find it's easy to do (once you work it out initially), and hasnt caused any problems.

What made you frequently transfer? Did you make any profit?