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    • RomfordNavy
    • By RomfordNavy 5th Aug 18, 9:06 PM
    • 93Posts
    • 8Thanks
    RomfordNavy
    Moving cash ISA from 120-day account
    • #1
    • 5th Aug 18, 9:06 PM
    Moving cash ISA from 120-day account 5th Aug 18 at 9:06 PM
    I have circa 80k in a 120-day cash ISA which I would now like to consider investing rather than just leaving it in a bank account. Not sure where I intend to invest this yet but just want to get it out of it's 120-day account.

    Can anyone suggest where I should move this to in preparation for future investment?
Page 1
    • Keep pedalling
    • By Keep pedalling 6th Aug 18, 9:03 AM
    • 5,306 Posts
    • 5,929 Thanks
    Keep pedalling
    • #2
    • 6th Aug 18, 9:03 AM
    • #2
    • 6th Aug 18, 9:03 AM
    You need to leave it where it is if you want all you new investments to be held in an ISA. Once withdrawn you are limited to your 20,000 annual allowance.
    • eskbanker
    • By eskbanker 6th Aug 18, 10:25 AM
    • 7,874 Posts
    • 8,729 Thanks
    eskbanker
    • #3
    • 6th Aug 18, 10:25 AM
    • #3
    • 6th Aug 18, 10:25 AM
    Yes, as above it makes most sense to keep it within the ISA umbrella as this is more beneficial for investment than it is for cash, given the valuable protection against CGT and dividend taxation.

    First step is to sort out what you want to invest in (bearing in mind your objectives, attitude to risk, timescales, etc), and then once you've done that identify the best platform(s) on which to hold such investments - sites like http://monevator.com/find-the-best-online-broker/ are useful for this.

    Mainstream investment platforms will allow cash to S&S ISA transfers, which will allow you to invest all 80K within a S&S ISA environment.
    • Vortigern
    • By Vortigern 6th Aug 18, 3:08 PM
    • 2,535 Posts
    • 1,718 Thanks
    Vortigern
    • #4
    • 6th Aug 18, 3:08 PM
    • #4
    • 6th Aug 18, 3:08 PM
    As an interim measure you could ISA transfer from your 120-day ISA to an Easy/instant access ISA. Fill in a transfer form from the Easy ISA provider and indicate that you wish to serve out the notice period.
    • jsinc
    • By jsinc 9th Aug 18, 3:12 PM
    • 111 Posts
    • 47 Thanks
    jsinc
    • #5
    • 9th Aug 18, 3:12 PM
    • #5
    • 9th Aug 18, 3:12 PM
    Mostly as above, I first transferred with notice to an instant access cash ISA with same provider to avoid issues from notice period. Then to S&S ISA from the instant access ISA.
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