ISA transfer process
What is an ISA transfer?
An ISA transfer allows you to move your savings from one ISA to another without losing your tax-free benefits. People typically transfer to secure a higher interest rate, improved features, or greater flexibility. The good news? By following the ISA transfer process your money remains tax-free throughout the process
Key ISA transfer rules
Before you start, here's what you need to know:
- the tax year starts from April 5th to April 6th the following year,
- transferring doesn’t affect your annual ISA allowance (£20,000 for the current tax year).
You can transfer between different ISA providers and ISA types:
You can move your ISA to another provider and can either switch to the same or different ISA type. For example:
- Cash ISA to cash ISA.
- Lifetime ISA to Lifetime ISA.
- Stocks and Shares ISA to cash ISA.
- Cash ISA to Stocks and Shares ISA.
How to transfer my ISA?
- Review your current ISA. Check to see if your current ISA is working for your financial needs.
- Compare providers. Look for benefits and terms that suit your savings goals by reviewing other ISA products from different providers.
- Charges. Check for any charges or terms and conditions that may affect you transferring your ISA. Check with your current provider first, they can confirm this for you.
- Contact your new provider. Get in touch with your new provider that you wish transfer your ISA to. They will guide you through their ISA transfer process.
(Apply for your new ISA in one of our branches or online, at Nottingham Building Society). - Complete forms. Request and complete an ISA transfer form with your new provider. They’ll take all the details and make the request for you. You may be able to do an online ISA transfer as well if your new provider offers this option. Check with your new provider to discuss your options first.
- Processing time. Transfers could take up to 15 working days (or up to 30 days for a transfer of a stocks and shares ISA to a cash ISA).
- Confirm completion. Make sure your balance has been transferred, and interest is building up. Your new provider will be able to confirm this for you.
- Enjoy your new ISA. Start making the most of your new savings setup.
What ISAs can I transfer to Nottingham Building Society
At Nottingham Building Society we do not provide Innovative or stocks and shares ISAs. This means you will not able to transfer your ISA into one of these ISA types with us.
If you have an ISA with another bank or building society, here's what ISA types you can transfer to at Nottingham Building Society:
- If you have a cash ISA: You can transfer it to one of our branch or online cash ISAs.
- If you have a stocks and shares ISA: You can transfer this to one of our Cash ISAs at Nottingham Building Society.
- If you have a Junior ISA:
- Before the age of 18, you can transfer it to our Junior ISA.
- When the Junior ISA holder turns 18, it automatically becomes a Cash ISA. At this point, it can be transferred to any adult ISA, including a Cash ISA at Nottingham Building Society.
- If you have a Lifetime ISA (LISA): You can transfer to our online Lifetime ISA. You can only transfer your LISA to another LISA. Not to another ISA type.
Please be aware if you have an existing Lifetime ISA at Nottingham Building Society and opened this in one of our branches, we currently are unable to transfer LISA branch accounts to our online LISA.
How do I transfer my ISA to Nottingham Building Society?
You can transfer your ISA online, in person at one of our branches, or via post and email depending on the ISA you want to open with us.
Transferring your cash ISA to a branch cash ISA
If you'd like to transfer your cash ISA to one of our branch cash ISAs you will need to fill in our cash isa transfer authority form. Please complete and sign the form.
Transferring your stocks and shares ISA to a branch cash ISA
To transfer your stocks and shares ISA to one of our branch cash ISAs, you'll need to complete and sign our dedicated stocks and shares to cash ISA transfer authority form, and then we can get your ISA transfer process started.
If you want to get a head start on your ISA transfer, you can complete and print off our stocks and shares to cash ISA transfer form at home and bring it into one of our branches.
Where do I send the ISA transfer forms
You can send us your transfer authority form by the following ways
Branch
You can visit any one of our branches and hand in your already downloaded and completed form. Alternatively, if you can’t download and print our ISA transfer forms at home, you can visit your local branch and our colleagues will be happy to support and guide you through the process.
Post
Fill in the form that’s relevant to your request and print and post it to us at:
Customer engagement,
Nottingham Building Society
Nottingham House
3 Fulforth Street
Nottingham,
NG1 3DL
Or you can complete, sign and email a scanned form to us to: isas@thenottingham.com.
Transferring to our online cash ISA or Lifetime ISA
You can easily transfer your ISA online if you're looking to move:
- A cash ISA to a Nottingham Building Society online cash ISA.
- A Lifetime ISA to a Nottingham Building Society online Lifetime ISA (remember, you can only transfer a LISA to another LISA provider).
For an online ISA transfer, you can follow the process by downloading our app and registering online to open an ISA and follow the ISA transfer process.
Do I have to transfer the full balance?
- Your existing ISA might have restrictions on full or partial transfers. It’s worth checking the terms and conditions first with your existing ISA provider.
- If you haven't deposited any new money into your ISA this tax year, you can move all of it or just some of it.
- If you've already deposited into your ISA this year, you can still transfer some or all of it. But you'll need to move all the money you deposited in this current tax year to your new ISA.
Reasons to transfer a cash ISA
Wondering why you might want to transfer your cash ISA? Here are some key reasons:
- Better interest rates. If your current ISA isn’t keeping up with competitive rates, transferring can help your savings grow faster.
- More flexible features. Some providers offer better access to your money, penalty-free withdrawals, or bonus incentives.
- Consolidation. If you have multiple ISAs, bringing them together in one account could make managing your savings easier.
- Switching to a different ISA type. You may want to move from a stocks and shares ISA to a cash ISA to explore other savings growth opportunities.
Frequently asked questions
No, using the ISA transfer process, interest continues to build up. Your old provider will stop paying interest when they transfer the money, and your new provider will start paying interest as soon as they receive your savings.
For most easy access ISAs, yes. As long as you transfer through your provider (rather than withdrawing the funds yourself), you’ll keep your tax-free benefits and avoid penalties.
It’s always worth checking the terms of your ISA before you do anything. Some products, like fixed rate ISAs, may come with early withdrawal charges if you transfer before the term ends. A quick check of your product terms and conditions before transferring could save some penalty surprises!
No, transferring an ISA isn’t the same as opening a new one. You’re moving your existing savings while keeping the tax benefits. But any contributions made in the current tax year will count towards your annual ISA allowance.
Please be aware this refers to cash ISAs and not a Lifetime ISA. You cannot transfer your LISA if you have funded it during the current tax year.
There isn’t a limit as to how many times you can transfer an ISA per tax year. But make sure you follow the ISA transfer process to keep your tax-free status.
It is also worth checking with your provider first whether there are any penalties for changing your ISA early.
Depending on the ISAs terms and conditions, you may be able to transfer part or all of the savings in your ISA to us. Make sure you discuss this with us or your new ISA provider before taking any action just to be certain of any potential restrictions.
You can transfer an ISA at any time of the year. There's no specific deadline for transferring an ISA, unlike the annual ISA allowance which expires at the end of each tax year (5th April). The 'best' time to transfer your ISA truly depends on your personal circumstances and financial goals
Some key considerations to keep in mind:
- Maturity of fixed-term ISAs: If you have a fixed-term cash ISA, you might want to wait until it matures to avoid potential early exit penalties. Check your existing ISA's terms and conditions for any such charges.
- Changes in your financial goals: If your financial objectives have shifted (e.g. from short-term saving to long-term investing, or vice versa), a transfer might be appropriate to align your ISA with your new goals.
Please be aware this refers to cash ISAs and not a Lifetime ISA. You cannot transfer your LISA if you have funded this account during the current tax year.
Typically, when you're transferring funds between cash ISAs, the process can take up to 15 working days. If you are transferring from a stocks and shares ISA it can take up to 30 days. This time frame allows for everything to be processed smoothly and ensures your savings remain tax-free throughout the move.