Transfer stocks ISA into 3 separate cash ISA's

JSmith321 · 7 June 2019 at 3:39PM

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

eskbanker · 7 June 2019 at 4:00PM

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....

AnotherJoe · 7 June 2019 at 4:02PM

Just do it one at a time. The first two partial, the last one full. Less to go wrong.

JSmith321 · 11 June 2019 at 9:10PM

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.

Transfer stocks ISA into 3 separate cash ISA's

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