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Transfer stocks ISA into 3 separate cash ISA's
JSmith321
Posts: 82 Forumite
I have £200k in a stocks ISA (presently held in cash within the ISA wrapper while out of the volatile market) and want to transfer to 3 cash ISA's with 3 different providers to ensure I'm covered by the FSCS and to preserve my ISA tax wrapper. Can this be done? I'm concerned that a new provider may get things wrong and try to transfer all my stocks money into their cash ISA. I could simply remove the money myself and place in 3 savings accounts but would lose the tax wrapper. Thanks
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Comments
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It's possible to do this, yes - you simply instruct each cash ISA provider to transfer a nominated amount from your S&S one, provided of course that you're transferring into products that accept transfers.
Obviously mistakes can and do happen but the receiving provider(s) would be on the hook to resolve any issues....0 -
Just do it one at a time. The first two partial, the last one full. Less to go wrong.0
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Just an aside to this, can't believe how awkward they make this. Many of the providers don't even have the right forms to go from S&S to Cash ISA (Virgin is an exception) on their web sites. Then you have to post the form rather than do things electronically.0
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