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ISA transfer explained

ISA transfers are the best way to move money between your ISAs. If you don’t follow the process for ISA transfers, e.g. you withdraw from one account and deposit in another, your money could lose its tax-free status. Find out how to transfer between ISAs, if your account allows it, and learn more about ISA transfers with our handy FAQs.

How do I make an ISA transfer?

Type of Transfer?

How long does it take to transfer an ISA?

The ISA transfer timescales depend on the type of ISA:
  • Transfers into a Skipton Cash ISA from another Cash ISA usually take up to 7 working days.
  • Transfers from Stocks and Shares ISAs, Innovative Finance ISAs and Lifetime ISAs take approximately 30 calendar days.

Please note: if you intend on transferring money out of a Lifetime ISA into another type of ISA before the age of 60, you will normally have to pay a 25% government withdrawal charge, which would mean you would get back less than you paid in.

How much can you transfer from one ISA to another?

For Cash ISAs the £20,000 annual allowance doesn’t apply to ISA transfers so you can transfer as much as you like. However, the rules are a little different for transfers into Lifetime ISAs (LISAs). If you transfer previous tax year’s savings into a LISA from a different type of ISA, it will count towards the annual LISA allowance.

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