Moving an ISA (Shares Component)

aspiration_2

I wish to move my Stocks and Shares Isa from a Bank to a Fund supermarket. I am yet to put in this years amount (£3600). Cash Isa taken care of, in an entirely different institution.

I am told to 'fill up a form for the transfer', but nothingt specific.

Could someone please indicate if I should

1) First move the ISA and then add this years money
2) OR start a new SS ISA in the supermarket and then tranfer the old ISA in to it.

Also, how do the shares/funds in the old ISA transfer in to new funds/shares ?

Thank You All.

dunstonh

1) First move the ISA and then add this years money
2) OR start a new SS ISA in the supermarket and then tranfer the old ISA in to it.

you can do it either way. It makes no difference.

Also, how do the shares/funds in the old ISA transfer in to new funds/shares ?

You can choose to re-register or transfer. Re-register will not sell your holdings and just change the administrator. You will not be "out of the market". Transfers on the other hand will sell your holdings to cash and the old provider will post a cheque for the value to the new provider where you will make new investments. You can be out of market for upto a week normally.

earlgrey_3

Just to say that after Dunstonh pointed me towards the difference I found when I phoned Hargreaves Lansdown that the term 're-registration' wasn't used or understood there. They just use the terms 'cash transfer' and 'stock transfer' on their forms and the latter seems to mean 're-registering'.

I emailed for confirmation, their reply:
"If you choose to transfer the ISA into the Vantage ISA, you would be given the choice of transferring as stock or cash. A stock transfer would be a re-registration of stock into our ISA wrapper. A cash transfer would mean that the stock is encashed before transferring the proceeds into the Vantage. For either of these options, you would need to complete the Vantage Stocks & Shares ISA Transfer form."

Cavendish on the other hand seem to think it important to make the distinction very clear here.

The stock transfer/reregistration is currently in progress.