ISA questions

olb81

Hi

I have 2 cash isas both with nationwide.

One for last year 20k

One for this year 20k

A couple of questions

Are isas for different years always kept In separate accounts?

Can I do anything with these isas other than withdraw the money?

For example Can I change to a s&s isa ?

Can I move it to another provider?

For example I have another 20k in freetrade as a GIA but they have the option of a s&s isa.

wmb194

https://forums.moneysavingexpert.com/discussion/6666009/isa-questions

1. No
2. Yes, transfer to another provider
3. Yes, a cash Isa can be transferred into a S&S Isa and vice versa* (*but this changes in 2027)
4. Yes. For prior year and current year contributions to a non-flexible account make sure you use the provider to provider transfer service e.g., tell Freetrade to initiate the transfer from Nationwide.

What types of Cash Isas are these? If fixed rate bonds there will probably be an early closure penalty.

Ayr_Rage

You can only put in £20,000 of new money per tax year.

Cash ISAs can be transferred to any other type of ISA.

Old ISAs do not need to be kept separate.

If you wish to move any type of ISA, do so by initiating a transfer with the new provider, never take it out of the ISA wrapper.

I think you need to do a bit more reading, all the answers are out there.

GrubbyGirl_2

From the questions you're asking it seems that you don't know much about ISAs. It would help you a lot to read through the posts on this forum to try and understand better otherwise you might find that you accidentally lose ISA status. Just remember that if you withdraw money you will lose ISA status the only way to preserve that status is to transfer the ISA so read up on what that means and how it's done. Also make sure you understand the changes coming in 2027

friolento

There is an ISA Guide here: https://www.moneysavingexpert.com/savings/isa-guide-savings-without-tax/

olb81

ok thanks and how many times can you move an isa?

could i move a nationwide cash isa to a freetrade s&s isa and still decide later to move it to vanguard for example?

can the pots be put into one, for example my 2 x nationwide cash isa's. if i went to freetrade opened an s&s isa and asked them to transfer in my nationwide isa's then i'd have a new pot with freetrade with 40k in it?

wmb194

https://forums.moneysavingexpert.com/discussion/comment/81982741#Comment_81982741

Already answered above; yes and you can transfer them as often as you like.

olb81

thanks

i already have a freetrade account and i understand its pretty much as its name says, free

i have also been aware of vanguard for a long time, which has small fees

is there any benefits from a more established platform like vanguard?

i know on freetrade i can for example buy VWRL a global passive fund or VWRP and also MSCI WORLD

i'd probably use one of all of those for my funds.