Topping up your ISA or withdrawing money

Setting up direct debits and regular payments

You can set up a direct debit to regularly add money to your ISA every month. To set up a direct debit log into your ii account and go to ‘Cash’, then ‘Add cash’, and then ‘Move cash’. Select the account you want to add a Direct Debit to and follow the on-screen steps.

You can also top up your chosen investments monthly with our free regular investing service. This lets you invest monthly into your chosen investments without paying a trading fee.

Adding money to your ISA via internal cash transfer

You can add to your ISA via an internal cash transfer. To start an internal cash transfer log into your ii account and go to ‘Cash’. Then go to ‘Move cash’, then ‘Internal cash transfer’, and follow the on-screen steps.

Adding money to your ISA via an ISA transfer

You can add to your ISA via an ISA transfer from another account or provider. You can begin an ISA transfer by logging into your ii account and heading to ‘Portfolio’, then ‘Transfers’, and then ‘Transfer in’. We’ll work with your current provider to move your money to ii, so you don’t need to do anything else.

Adding money to your ISA via Bed & ISA

Moving your investments to an ISA means they’ll be sheltered from tax. And it’s a great way to make the most of any unused ISA allowance.

You can use a Bed and ISA to sell investments in a Trading Account and buy them back in your Stocks and Shares ISA in one simple transaction.

You'll only pay a trading fee on the re-purchase, not the sale. This means it’s cheaper to Bed and ISA than to sell your investments yourself, transfer your cash into your ISA, and then repurchase the shares.

To start a Bed and ISA log into your ii account and head to ‘Portfolio’, then ‘Transfers’, and then ‘Bed & ISA’.
 

Adding money to your ISA via a SAYE scheme

You can transfer SAYE scheme shares to your ISA if you exercised your option within the last 90 days. The value of the shares you transfer will count towards your annual ISA allowance. 

To start a SAYE scheme transfer you need to open an ISA and initiate the transfer with your employee scheme provider/broker/registrar.
 

Paying into your spouse or civil partner's ISA

If you and your spouse or civil partner have accounts with us, and you would like to fund their ISA with cash from any of your accounts, we can do this for you. You will need to contact us and we will arrange an internal transfer of cash from your account to theirs on your behalf. 

Beyond these circumstances, you can’t pay into someone else’s ISA. 

You can withdraw money from your ISA into an account held in your name. Some providers have withdrawal limits, withdrawal fees, or require a notice period for withdrawal.

With ii, you can take money out of your ISA whenever you want, as many times as you want, and we don’t charge any withdrawal fees to withdraw your money.
 

Withdrawal timescales

If you request a cash withdrawal before 2pm, you’ll usually receive it the next working day. After 2pm, you'll receive your money within two working days. If you’re selling shares, you will not be able to withdraw the cash until after the trade has settled.

How withdrawing affects your allowance

Regardless of how much money you withdraw from your ISA, you can’t put more than £20,000 into all of your ISA accounts combined in one tax year. Flexible ISAs allow you to replace the money you took out; however the ii Stocks & Shares ISA is not a flexible ISA.

Withdrawing vs transferring an ISA

Withdrawing and transferring an ISA might sound similar, but they are very different things. If you want to move cash from your ISA to your bank account, then you need to withdraw. But if you want to move money from one ISA to another, then you need to transfer an ISA. Your ISA annual allowance won’t be affected by an ISA transfer.

Do you pay tax on Stocks and Shares ISA withdrawals?

You don’t pay tax when you withdraw money from an ISA. Any profits you make in an ISA account are not taxable.