Moneybox to Prosper before April 6th?

NebulaNova

Is there time to transfer my Moneybox ISA funds to my personal account and then fund a new Prosper ISA before April 6th? Meaning I can then add another £20k next week?

Not sure it's worth the risk as things may not be instant with the bank holidays.

Thanks

NewPieman

My gut feel is now the door is closed……

p00hsticks

Too late.

My understanding is that to retain their ISA status, transfers had to be done directly between providers - will Prosper not handle transfers in ? By withdrawing the money you lose it's ISA status.

If they do then you can always arrange the transfer of existing money after April 6th (when it will be previous years money and not count towards your 2026-7 allowance) and still add £20k for your 2026-7 allowance.

eskbanker

https://forums.moneysavingexpert.com/discussion/comment/81948714#Comment_81948714

Probably the right answer but for clarity:

Current year money can be withdrawn from a flexible ISA and deposited into another ISA without counting towards the annual contribution allowance, so this is a valid mechanism as an alternative to transfers. However, Moneybox's ISA isn't flexible…

On the other hand, a transfer can be made to another provider at any time, as long as the receiving provider accepts inward transfers. However, Prosper doesn't!

NebulaNova

https://forums.moneysavingexpert.com/discussion/comment/81948728#Comment_81948728

It's not flexible but can I not withdraw it all and then pay into a new ISA? I think it's too close to the 6th now to do this.

eskbanker

https://forums.moneysavingexpert.com/discussion/comment/81948763#Comment_81948763

If it's not flexible then you can withdraw current year money and redeposit in another ISA, but doing so would count towards your current year allowance, so is only viable if you have enough remaining headroom there - do you?