ISA Transfers 2025 (How to Switch Providers Safely)

Want to switch to a better ISA rate? Here’s how to transfer safely without losing your tax-free benefits.

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The Golden Rule

Never withdraw your ISA money manually to switch banks.

If you do, you’ll:

• Lose the tax-free status on that money
• Use up your allowance if you redeposit
• Miss out on years of tax-free growth

Always use the official ISA Transfer Form.

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Why Transfer?

Good reasons to transfer:

• Higher rates — Find a better deal elsewhere
• Better provider — Prefer a different app or service
• More flexibility — Switch from fixed to easy access (or vice versa)
• Consolidation — Combine old ISAs in one place

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How ISA Transfers Work

Step 1: Choose Your New Provider

Compare rates at our Best ISA Accounts page.

Step 2: Open a New ISA

Start the application with your chosen provider.

Step 3: Request the Transfer

During or after opening, select “Transfer existing ISA.”

You’ll need:

• Your current ISA provider details
• Account number (if known)
• Approximate balance

Step 4: Your New Provider Handles Everything

They’ll:

• Contact your old provider
• Arrange the transfer
• Move your money automatically

Step 5: Wait for Completion

Transfers typically take 15–30 working days.

Cash ISAs are usually faster than Stocks & Shares.

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What About Your Allowance?

Transfers don’t use your allowance.

You can transfer £50,000 from an old ISA and still have your full £20,000 allowance for new deposits.

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Transfer Tips

Do:

• Compare rates before transferring
• Check for exit penalties (especially fixed ISAs)
• Keep records of your transfer request
• Be patient — it takes time

Don’t:

• Withdraw money manually
• Close your old ISA yourself
• Assume rates will stay the same (lock in if high)

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Partial Transfers

Some providers allow partial transfers:

• Move some money to a new provider
• Keep the rest where it is

Check with both providers if this is an option.

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Transfer Times

ISA Type	Typical Transfer Time
Cash ISA	15 working days
Stocks & Shares ISA	30 working days
Lifetime ISA	30 working days

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What If Something Goes Wrong?

1. Contact your new provider first — They’re responsible for chasing
2. Follow up after 30 days — If no update, escalate
3. Complain if necessary — Use the Financial Ombudsman as a last resort

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Final Thoughts

ISA transfers are easy when done correctly. Never withdraw manually — always use the official process and your tax-free status stays protected.

Find better rates: Compare ISA providers