Posted on: 12 Jul, 18
Did you know you can transfer your Individual Savings Account (ISA) from one provider to another at any time? Transferring your ISA to another provider is easy and could boost the funds in your tax-efficient account – but it has to be done right. If you have accumulated a number of ISAs over the years, keeping them all in one place could give you better control and help you save money.
There’s a common misconception that you can’t move your existing ISAs from one provider to another. Transferring your ISAs doesn’t affect its tax-efficient status, but you should make sure that you don’t have to pay penalties or give up valuable benefits.
If you want to switch from an existing ISA provider to a new one, you’re perfectly within your rights to do so. Much like a mortgage, you shouldn’t feel like you’re saddled forever with your first ISA provider choice. Transferring your ISAs could allow you to widen your range of investment choices, as the range on offer can differ between providers.
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