Trading 212 can't transfer to Chip

ikr2

I've got a flexible Trading 212 ISA that has a £1 balance although it had a £13K balance earlier during this tax year, including £8K in deposits since March.

The bonus rate has finished so I'm getting 3.85% so I've opened at 4.42% Chip ISA 9also flexible). I've tried to transfer the Trading 212 ISA but it's not listed by Chip as one of the providers I can transfer from. the Chip app just askes me to enter Trading 212's name and says they'll let me know when I can transfer.

So given they're both flexible ISAs and therefore my annual allowance stays at £20K (and is not reduced by deposits), if I don't use the Trading 212 ISA any more, can I begin to use the Chip ISA?

eskbanker

Yes, withdrawals of current year money from a flexible ISA can be deposited into any other ISA rather than having to be returned to the one from which they were withdrawn.  However, the £5K of prior year money would need to be paid back into Trading 212 if you wanted to get that back into the ISA wrapper as well as your £20K current year allowance.