Cash ISA frequently asked questions
About Transfer In Cash ISAs
What is an ISA Transfer?
An ISA Transfer is a fee free process for moving funds from previous tax years’ Cash ISAs with other providers.
Transferring doesn’t affect your current tax year entitlement and you maintain the tax free status on the funds you are transfer.
Transferring doesn’t affect your current tax year entitlement and you maintain the tax free status on the funds you are transfer.
What ISAs are eligible to transfer in?
Any previous tax years’ Cash ISAs held with providers other than ING Direct.
Previous years’ ING Direct Cash ISAs and current tax year Cash ISA from any provider are not eligible for transfer.
Previous years’ ING Direct Cash ISAs and current tax year Cash ISA from any provider are not eligible for transfer.
I’ve seen that you offer a Cash ISA Transfer – Easy Access as well. What is
the difference between this and the Cash ISA Transfer –Fixed Rate product?
The interest rate for the easy access product can go up or down at anytime. The fixed rate product has a guaranteed rate for 1 year providing you don’t withdraw any funds. Both products are subject to availability.
What’s the difference between a current tax year Cash ISA and a Cash ISA Transfer?
Cash ISA Transfer only moves existing tax free savings from a previous year’s allowance into a new account and doesn’t affect your current year ISA allowance.
A current tax year Cash ISA would be opened using new funds and would form part of your current tax year allowance.
A current tax year Cash ISA would be opened using new funds and would form part of your current tax year allowance.
I’ve opened a Cash ISA already for the current tax year allowance – can I
still transfer previous year’s Cash ISAs to ING Direct without going over my allowance?
Yes, the funds for your Cash ISA Transfer are from previous tax year(s) so don’t affect your current tax year ISA allowance.
Setting up a Cash ISA Transfer
Do I have to transfer all the money from my previous Cash ISA account?
No, you don’t have to transfer the full amount, but you must transfer a minimum balance of £1,000.
How much can I transfer?
You can transfer as much as you like from previous years’ Cash ISAs – there is no maximum transfer limit.
How many previous years Cash ISAs from other providers can I transfer?
You can transfer as many as you like.
I want to transfer more than one previous years’ Cash ISA, do I have to fill
in a different form for each one?
Yes, we are required to ask you to complete a new form for each Cash ISA account you wish to transfer.
Can I transfer Cash ISAs from more than one provider?
Yes, there is no limit on the number of different ISA providers you can transfer from.
Do I need to notify the provider I’m transferring my ISA from?
No, we'll contact them and deal with the process on your behalf.
Managing your account
Once my account is open, can I add more money to it?
As the money being transferred is from a previous years Cash ISA allowance, you can’t add to it, however if you have extra money you wish to earn tax free interest on, why not check out our current tax year Cash ISA for details.