Transferring an ISA

If you feel your ISA is not performing as well as you like, or do not like the way it is being handled by your current manager you can alwasys transfer your ISA to another ISA manager. The type of ISA must be the same. For example, you cannot move funds from a cash ISA with one manager to a stocks and shares ISA with another.

New regulations which will probably be brought into effect in 2008 will enable investors to transfer money held in a cash ISA into a stocks and shares ISA, but not the other way around.

Your ISA MUST be transferred directly between your existing ISA manager and the new one. Ask your existing ISA manager to arrange the transfer. Check the terms and conditions with your ISA manager to find out if you will be charged for transferring.

You CANNOT arrange a transfer yourself by closing the first ISA and paying the money to another ISA manager.