Iāve got a cash ISA with Tembo. My balance there consists of money from previous ISA years, along with a full Ā£20k contributed this year. It was all transferred into Tembo earlier this year from a different provider.
Iād now like to move about Ā£10k into my T212 S&S ISA. Trying to initiate a partial transfer here on T212 just tells me āPartial transfers for the selected tax year are not supported by Temboā. I donāt believe thatās true, I think Tembo do support partial transfers.
Another option (if I canāt do a partial Ā£10k tranfer) would be to do a full transfer for the current tax year (i.e. Ā£20k). It looks like T212 will let me do that, and the form generated in the transfer process says ācurrent tax year - full, previous tax years - do not transferā but honestly Iām worried this will go wrong. I really donāt want to take a risk that everything from my Tembo will be transferred.
Best way is to contact Tembo and T212 and get it all in writing. Might be a bit fiddly and going back and forth with them but youāll have evidence in black and white if it goes wrong.
Tembo did not originally support partial ISA transfers out
You can also transfer your Tembo Cash ISA savings in full to another ISA provider and keep the tax-free benefits on the money transferred. Partial transfers are not accepted.
This appears to have recently changed and the current version states:
You can also transfer your Tembo Cash ISA savings in part or in full to another ISA provider and keep the tax-free benefits the money transferred.
Unless they have changed recently, ISA rules state that if you want to transfer your current tax year contributions between providers you have to transfer them in full. Transferring previous years contributions does not have this limit.
Trading 212 support have told me Tembo donāt support partials. Iāve done the next best thing which is to request to transfer only this yearās amount. I just hope they donāt mess up and transfer the whole amount (inc. previous years).
@J_me, Tembo doesnāt support partial transfers of past-year Cash ISA funds to us. This means you can either transfer your entire ISA (including past and current-year contributions), which would close your Tembo ISA, or transfer only your current-year subscriptions. We accept full transfers (past-year and current-year funds) & current-year-only transfers.