ISA transfers are here 🚚

I think a lot of ISA providers became “flexible” ISAs in approx. 2016.
So some (not all) providers would allow you to put back your withdrawal in the same year only.

But by GM’s wording I assume their ISA allowance is gone

Thanks Dave and finki! It looks like it’s gone indeed :slight_smile: as expected…

I’ve been paying in to an old S&S ISA in this tax year. If I transfer it over to Freetrade am I able to pay into this new Freetrade ISA in the same tax year? I know there are rules around this but I’m unclear on procedure.

Also would I be able to merge my Freetrade general account portfolio into my new ISA.

No on the first question, unfortunately. On the second, I think you need to sell up, transfer the funds and then buy again inside the ISA, unless something has changed from before.

Annoying on both fronts but thanks for the response!

Possibly Too Much Information, but what you can do (usually) is limit the spread of the sell from the GIA to the ISA as it’s a zero risk trade for the market makers. You’re performing what is weirdly known as a “Bed and ISA” - simply a GIA to ISA transfer but facilitated via a Sell and Buy in order to generate the correct tax liability (if any) in your GIA and to account for your ISA allowance on the inward leg.

If you call up (argh! Voice Trade - they don’t happen anymore) the market maker will often reduce the spread to virtually zero for you as there’s no risk to their position.

Pointless in the case of a highly liquid stock and you’re transferring a small position. Essential if you’re moving an illiquid stock with a wide spread.

I’m not sure that’s right. You should be able to transfer an ISA you’ve been paying into this tax year to FT and then pay into the new FT ISA.

The only criteria is that you transfer the full ISA value of the old ISA you were paying into. If you are transferring an old ISA but haven’t paid into it in this tax year, you are able to do a partial transfer.

And of course, you can’t go over the £20k deposit per tax year so if you’ve already deposited £10k in the old one, you can only depost £10k more.


I’ll wait until the next tax year and just sell and buy again straight away under the ISA wrapper. Problem is that transferring my existing ISA means being out of the market for 4 weeks cause I’m not paying AJ Bells transfer fees for funds.

You’ll probably find those transfer times quoted a pure estimates and in reality will be shorter. There is no need for that transfer time. Once you lodge your request from the ceding broker Freetrade can phone them and arrange trade and settlement immediately if necessary. The “problem” will be AJBell having no incentive to facilitate a fast transfer to lose your business. The FCA has been banging on about transfer times for years now but no tangible regulations to hold anyone to account. It’s essentially a best endeavours operation with only “name and shame” transfer times league tables proving any incentive for brokers to facilitate transfers-out. Lots of technology exists to speed things up but they are really just expensive diary and messaging systems that could be made by anyone with a little coding knowledge. Freetrade can surely build something better inhouse to facilitate faster transfer times. Failing that throw operations people at it in the short term. I did a same day transfer between sizeable brokers only recently. I few FIX messages and API calls and a Registrar that has their house in order and … bingo, same day.

Nobody wants to be out of the market for 4 weeks waiting for a transfer.

Yep you can! A transfer moves the old ISA and its contribution over, so that previous contribution is now considered to be against your new ISA and you can put in more.

1 Like

Thanks I’ll explore doing that then. Flipping annoying that this isn’t made explicit in ISA rules. It reads as if you can’t do that. :slight_smile:

Okay, good to know. Sorry for the misinformation. Was this always the case or did it change recently?

I’m not sure. The rules have changed so much for ISAs, I find that it’s only worth keeping track of what’s valid now! I wouldn’t be surprised if they change again in the next tax year.

Pretty sure it’s been this way for some time.

You can transfer an isa and keep its benefits at any time. But opening a new isa and moving the money into doesn’t not count as a transfer, it counts as a new isa which you can only do once per year per type, and the money isn’t considered within an isa wrapper anymore once you’ve taken it out your old isa.

If you want to keep your allowance and your previous isa deposits, transfer.

1 Like

@Freetrade_Team @craigpeckham
This is good stuff. Quick question - does the FSCS protection up to £85 apply to cash/stock/mixed ISAs at freetrade? Cheers

My S&S ISA is with MoneyBox, as soon as I have £1 back in there ready to transfer it allocated to funds that are not available on Freetrade, you can’t sell these funds and hold them as cash, it’s either in the fund or returned to your bank account. How would this work for me? I have left £1 in there while I wait for the transfer but I can’t see it working! Any light you can shed on this would be good! As I am sure there are other investors on MoneyBox that would like to transfer!

Hey @grantbarker. Good news, Moneybox do offer transfers out in cash :+1:.

I suspect they put a freeze on additional investments once a transfer application has been received.


The short answer is yes. The FSCS protects individuals in the most dire of cases up to the value of £85k per institution.

That doesn’t mean that you would automatically lose any investments above £85k if an institution went bust, it’s really just a worst case scenario.

You can check out whether an institution genuinely carries FSCS protection on the FCA website :wink:

This blog post from last year gives some more detail on the measures we have in place to make sure your cash / stock is properly protected. :point_down:


I submitted form on the day it was posted, no contact from the team yet.

So, anyone started their ISA transfer?

Hey! Could you please DM me your email address and I will take a look for you? Thanks!