value of transfer query

MarinaLMourelle

Hello all

my first forum query !!

I am looking to transfer to a fixed rate cash isa. my current cash isa provider will not let me partial transfer £20k. Can I transfer £40K in one transfer ?

many thanks

eskbanker

If your current provider doesn't accept partial transfer requests then your only option is a full transfer - the value of such transfers is generally uncapped, but you'd need to check with the receiving provider.

MarinaLMourelle

Hi thank you for your reply.

They have advised I need to do a full transfer. Will this affect my annual allowance if I want to add more in during the remainder of the 2026 financial year?

I thought the cap was £20k per year.

eskbanker

https://forums.moneysavingexpert.com/discussion/comment/82137237#Comment_82137237

There is the annual contribution allowance of £20K, but that doesn't relate to transfers (provided these are handled via the receiving provider's ISA transfer process).

Placitasgirl

When using the ISA transfer process your money is sent by your current provider to your chosen new provider. You’re simply moving the funds already held in your ISA, so this isn’t classed as a “contribution” to the ISA you’ll be putting them into, leaving you free to add up to £20k of new funds in the current tax year if you haven’t already made a contribution.

Do not be tempted to move the money outside of the internal ISA transfer process offered by your provider and the receiving institution; it’ll fall outside of the tax wrapper and the benefits will be lost if you do.

Albermarle

https://forums.moneysavingexpert.com/discussion/comment/82137237#Comment_82137237

I thought the cap was £20k per year.

ISA transfers of hundreds of thousands of Pounds are not unheard of.

If you spend some time reading through this informative forum, you will soon be up to speed with all ISA rules.

xylophone

Did you contribute any of the £40,000 in this financial year?