Compare Cash ISA Transfer Deals

Oliver Roylance-Smith, Director

 

 

"Transferring your cash ISAs to benefit from a better rate of return is a simple and straightforward process. Our customer helpdesk can answer any questions you might have."

Oliver Roylance-Smith,  Head of Investments and Savings
Income Cash ISA Selection
ProviderPlan NameDeposit TakerISA OptionTermMaximum Potential ReturnMore Info
Target Income Deposit PlanInvestec Bank plcyes6 years4%
per annum
More Info >
  • Potential annual income of 4%
  • Income paid if the FTSE 100 finishes above 90% of its starting value
  • Missed payments added to future payment next time anniversary level above 90%
  • Capital protected
  • Medium/long term alternative to fixed rates
  • Also available for Cash NISA & NISA transfers
  • Covered by the FSCS (Financial Services Compensation Scheme)
  • Limited offer - deadlines apply. May close early if oversubscribed
  • Plan designed to be held for full term
  • Arrangement fee applies
  • Returns not guaranteed. You may only receive a return of your original capital
Important Information: Structured deposits offer you the potential to earn higher returns than you would with a regular savings account. Your returns are based on the performance of an index or commodity. If the investment does not perform well you may receive no income or capital growth, but you can be confident that your capital will be repaid. You have no access to your deposit during the term of the account, typically 3 to 6 years but your original capital will be repaid in full at the end of the term. In the event that the deposit taker is unable to repay your initial investment and any returns stated you may be entitled to compensation from the Financial Services Compensation Scheme (FSCS) depending on your individual circumstances.
Growth Cash ISA Selection
ProviderPlan NameDeposit TakerISA OptionTermMaximum Potential ReturnMore Info
Kick Out DepositInvestec Bank plcyesUp to
6 years
4.75%
per annum
More Info >
  • 4.75% for each year if the FTSE 100 finishes higher than its starting value
  • Opportunity to mature early at year 3, 4 or 5
  • Capital protected
  • Short/medium term alternative to fixed rates
  • Also available for Cash NISAs & NISA transfers
  • Covered by the FSCS (Financial Services Compensation Scheme)
  • Limited offer - deadlines apply. May close early if oversubscribed
  • Plan designed to be held for full term
  • Arrangement fee applies
  • Returns not guaranteed. You may only receive a return of your original capital 
5 Year Deposit Plus PlanInvestec Bank plcyes5 years20% fixed or 100% of FTSE 100 growth (no limit)More Info >
  • Target return of 20% gross or 100% of any growth in the Index if higher
  • Capital protected
  • Low minimum - £3,000
  • Short/medium alternative to fixed rates
  • Also available for Cash NISA & NISA Transfers
  • Covered by the FSCS (Financial Services Compensation Scheme)
  • Limited offer - deadlines apply. May close early if oversubscribed
  • Plan designed to be held for full term
  • Arrangement fee applies
  • Returns not guaranteed. You may only recieve a return of your original capital
Digital Growth Deposit PlanLloyds Bank Plcyes6 years30%
(after 6 years)
More Info >
  • Target return of 30%
  • Capital protected
  • Low minimum - £3,000
  • Medium/Long term alternative to fixed rates
  • Also available for Cash NISA & NISA Transfers
  • Covered by the FSCS (Financial Services Compensation Scheme)
  • Limited offer - deadlines apply. May close early if oversubscribed
  • Plan designed to be held for full term
  • Arrangement fee applies
  • Returns not guaranteed. You may only recieve a return of your original capital
Important Information: Structured deposits offer you the potential to earn higher returns than you would with a regular savings account. Your returns are based on the performance of an index or commodity. If the investment does not perform well you may receive no income or capital growth, but you can be confident that your capital will be repaid. You have no access to your deposit during the term of the account, typically 3 to 6 years but your original capital will be repaid in full at the end of the term. In the event that the deposit taker is unable to repay your initial investment and any returns stated you may be entitled to compensation from the Financial Services Compensation Scheme (FSCS) depending on your individual circumstances.

 

Transfer your cash ISA


If you are not happy with the interest being offered by your current cash ISA provider then you have the option of transferring to another provider offering a better rate. So if you have cash ISAs from previous years you can transfer some or all of them into a new Cash ISA plan with a new provider that offers a better rate of interest.

 

Transferring a cash ISA is straightforward. and based on the Building Societies Association guidelines should take a provider no more than 15 working days to facilitate the move.

 

It's possible to make cash ISA transfers at any time, into another cash ISA or into a stocks and shares ISA, as well as the other way round. Be aware that cash ISA transfers have to be done through the new provider, who will carry out the process for you. If you just withdraw the funds from your cash ISA with the intention of putting them into a different one, this will count towards your total ISA allowance for that year. Or, if you have already deposited up to your total allowance, you will not be able to pay the money into another ISA until the next tax year. Cash ISA transfers done through the proper process will not count towards your ISA allowance, so always take the time to transfer your funds correctly.

 

 

How do you transfer a cash ISA ?



1. Find an attractive alternative home for your cash ISA by shopping around. Use our website to find a range of current cash ISA deals. Once you have found the cash ISA plan you require you will need to complete a ISA transfer authority form (this will be included in the new provider application pack) as well as a ISA application form.


2. Once you have provided the completed forms to your new provider you may be asked for additional information to complete the transfer. The completed forms will be sent on to your existing cash ISA provider.


3. Your existing ISA provider may contact you to confirm the transfer request and may ask for additional information before they proceed. Once they have completed their administration they will send the transfer funds to the new ISA provider.


4. By working day 11 the new ISA provider will chase the old provider if they have not received a timely response. If there is a delay to the transfer you should be contacted with an explanation and likely timescale for resolution. Once funds are received your new ISA provider will credit funds to your ISA account and backdate interest. Your new provider will backdate interest to the first day where interest no longer accrues on the funds being transferred from your old ISA. Your new ISA provider will start paying interest from day 16 at the latest regardless of whether the ISA transfer has completed within the standard 15 business working day timeline.


5. You have the right to stipulate the timescale for your ISA transfer which you may want to do to take account of any applicable notice period or fixed rate period to ensure that you avoid losing interest. If you make such a request the ISA transfer will be pended until it is appropriate to proceed. It is important that you check with your new ISA provider that the product that you wish to apply for will still be available after the notice period of the old product has ended.

 

 

What if I have already taken out my 2014-15 cash ISA?


There is nothing stopping you moving this cash ISA and cash ISAs from previous years years into a new Cash ISA plan or a stocks and shares ISA plan if your prefer. Compare deals and make a cash ISA transfer to make your money work as hard as possible – keep an eye on your interest rate and if it falls, consider switching. Or if it's a fixed rate, make sure you shop around when the deal comes to an end.

 

 

Can I transfer my cash ISA to a new ISA account myself ?


No. If you withdraw cash from a cash ISA yourself you may forfeit the tax free status enjoyed on the account. By getting your new ISA provider to carry out the transfer you can be assured that your ISA tax free status will be preserved.

 

 

Fair Investment cash ISA Transfer Information Service


If you are interested in a cash ISA plan featured on our website but you are unsure how the ISA transfer process works, call our helpdesk for more information.  If you wish to invest in a new cash ISA using one of the plans which we administer we will check the transfer forms when you send them back to us and call you if we need any further information.

 

Fair Investment Helpdesk Telephone

 


 

 Important Risk Information:

This website contains information only and does not constitute advice or a personal recommendation in any way whatsoever. The value of investments and income from them can fall as well as rise and you may not get back the full amount invested.

Investments in Stocks & Shares ISAs do not contain the same degree of capital security as investments in deposits. Stocks and shares ISAs are designed as medium to long term investments of, for example, five years or more. The tax efficiency of ISAs is based on current tax law and there is no guarantee that tax rules will stay the same in the future.

Different types of investment carry different levels of risk and may not be suitable for all investors. Please ensure that you read the Important Risk Information for further details. Prior to making any decision to invest, you should ensure that you are familiar with the risks associated with a particular investment and should read the product literature. If you are in any doubt as to the suitability of a particular investment, both in respect of its objectives and its risk profile, you should seek independent financial advice.