Is it possible for me to transfer an existing cash ISA to Trading 212 ISA, even though I already have a stocks & shares ISA with another provider.
No, not if you have paid into the other s&s isa this tax year. If you wait 5 days, then you will be able to open one from April 6th. But you cannot fund your old s&s isa anymore. You can just leave this or transfer it to T212. But to transfer you will need to sell all your holdings and transfer it as cash.
You can transfer your current years ISA subscription (must be the whole amount) IF, and only IF you have not opened another stocks and shares ISA in that tax year, or already paid into another ISA tax wrapper.
For money saved in prior years, either in a Cash ISA or stocks and shares ISA, you can transfer those years subscriptions (£20,000 per year), by using a ISA Transfer Form.
Email firstname.lastname@example.org to request this form, fill it out and email or post it back to trading212.
1-3 weeks delay for this whole process to complete, although you MUST expect a longer timeframe due to the coronavirus situation.
So to recap, transferring this years subscription (April 6th) £20,000 in whole, or not at all.
Prior years subscriptions, you need an ISA transfer form. You choose how much you wish to transfer.
When emailing trading212, make sure you ask for your ISA Account number also, as this is needed when filling out the form.
Hope this helps.
that’ s very helpful.
So do I understand correctly that one cannot arbitrarily transfer funds between a T212 S&S ISA and any other cash ISA? I’m looking for a counterbalance to my equity ETFs. Traditionally you’d use a bonds ETF, but I don’t feel like timing the interest rate reversal that will come sooner or later…
Once funds are sent to the Trading212 ISA, it counts as your allowance quota for that year. So, if you transfer £20,000 in, and then decide to take £10,000 out, you would need to wait another year to be able to add any more in of your current years allowance..
If you want to transfer previous years subscriptions, you can do this anytime, just use an ISA Transfer form. Emailing Trading212 - email@example.com for this form to be sent to you.
Likewise, if you wish to transfer to another provider, an ISA Transfer form is required.