Cash isa transfers to stocks isa

🤝 Help
1

Hi, I need some help, please. I have a stocks and shares ISA with T212 and some of my £20K ISA allowance left for this year. Can I open a T212 cash ISA (for some interest) and then, as I decide on some new share trades, transfer from my new Cash ISA to my Stock ISA? I will of course, stay within this year’s £20K ISA allowance.

Currently, I have a few thousand in my Stocks ISA, earning nothing as I don’t feel comfortable using the “interest in cash” feature T212 has via the money market route. So the Cash ISA transfer would be handy for me.

If I can do this transfer from Cash to Stocks ISA, how long would this internal transfer take? Are we talking hours, days or weeks? Many thanks for any advice/help offered…

2

Yes you can easily transfer between the two ISA types in T212. I love this feature and the transfer is always instant from my experience.

3

Cash transfers between all three types of accounts (Cash ISA, Stocks ISA and Invest) are instant.

4

Thanks, that’s great as I can start the process over the weekend

5

just for info, you do realise that you would get interest on cash held in your share isa don’t you?

6

I mentioned that above. I’m just not as comfortable with using T212 money market for the “cash in account” interest. I know the risk is minimal, but the cash ISA route rules out the risk completely. I’m retired now and so this old codger needs to be safe…:slight_smile: