Important information - investment value can go up or down and you could get back less than you invest. If you're in any doubt about the suitability of a Stocks & Shares ISA, you should seek independent financial advice. The tax treatment of this product depends on your individual circumstances and may change in future. If you are uncertain about the tax treatment of the product you should contact HMRC or seek independent tax advice.
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How to transfer your Cash ISA to an ii Stocks & Shares ISA
Transferring your Cash ISA to a Stocks & Shares ISA with ii is simple.
You will need the name of your current provider and your account number.
Open an ISA
To start your transfer, open an ISA with us if you don’t already have one. This only takes a few minutes.
Set up your transfer online
Using your online account, select the 'cash & transfers' menu and then 'transfer in'. Make sure you select ‘Cash ISA’ when asked for the type of ISA you currently hold.
We’ll do the rest for you
We will complete the transfer for you and keep you updated regularly.
It is important that you use the online transfer process to transfer a Cash ISA. Your cash may lose its tax benefits if you try to transfer the money yourself. For more information, read ISA transfer rules.
Why transfer a Cash ISA to an ii Stocks & Shares ISA?
Transferring to an ii Stocks & Shares ISA could be for you if you are comfortable putting your money into investments.
With an ii Stocks & Shares ISA, you have a choice of investing in funds, ETFs, shares, and trusts. Each investment has the potential to outperform cash ISA savings rates, although this is not guaranteed.
What are the main benefits of a Stocks & Shares ISA?
- You are in control of your investments
With an ii Stocks & Shares ISA, you have the freedom to choose how your money is invested. You can invest in a variety of stocks, shares, bonds, trusts and funds.
- Potential to grow your money
With a Cash ISA, your money will only grow through interest. Through investment within an ii Stocks & Shares ISA, your money could grow above inflation, although there is also a risk of losing your money.
- Tax benefits mean you keep all your profit
With a Stocks & Shares ISA, there is no tax on the gains. That means you can keep all the profit you make on up to £20,000 per year of investment. It also provides a number of other tax benefits.
Things to consider before transferring
- Check for exit fees
We do not charge fees to open or exit an ISA, but some providers do. Make sure you check for exit fees before transferring. - You can only pay in up to £20,000 per tax year
Your annual ISA contribution limit still applies after you transfer. So if you’ve already paid in £20,000 with your previous provider, you can not contribute more until next tax year. - Investments can go down as well as up
Transferring your cash into shares comes with risk as investments can go down in value. It is important not to risk money you cannot afford to lose. - It may be less suitable for short-term investment
As share prices can go up or down, it is often recommended to keep your money invested for at least five years. If you are likely to need the money in the near future, a Stocks & Shares ISA may not be your most suitable option.
Are there any charges when transferring a Cash ISA to an ii Stocks & Shares ISA?
Transferring your ISA to ii is free. However, your current provider may charge an exit fee. Make sure you check this before starting your transfer.
How long will the transfer take?
The transfer can take up to four weeks. We will update you regularly about the transfer’s progress.
The transfer could take longer if there are delays from your current provider. Part of the transfer process is reliant on them and their timeframes can vary. Some Cash ISAs cannot be transferred electronically. If that is the case, we will send you a transfer authority form to print, sign and return to us.
How can I track the progress of my transfer?
You will receive ‘transfer tracker’ emails at important milestones throughout your transfer.
However, you can request an update at any time. Simply log into your account and request an automated email from your investments page.
When will I be able to invest the newly transferred funds?
You will be able to invest your transferred funds as soon as the transfer has been cleared.
Can I transfer more cash into an ii Stocks & Shares ISA?
You can top up your Stocks & Shares ISA with either lump sum cash transfers or by setting up regular investing to pay in monthly. Remember that the maximum contribution in a single tax year is £20,000.
Stocks & Shares ISA fees and charges
When you open a Stocks and Shares ISA you will start on our £4.99 a month Investor Essentials plan. Should your investments grow above £50,000, you will move onto our £11.99 a month Investor plan.
- Investor Essentials plan: £4.99 a month. Our low-cost plan for those investing up to £50,000. UK and US trades are £3.99.
- Investor plan: £11.99 a month. Our most popular plan. It includes a free trade every month and you can add as many Junior ISAs as you need for your children. You can also add 2 friends or family members for free. UK and US trades are just £3.99.
- Super Investor plan: £19.99 a month. For super-charged investors. You get 4 free trades every month and you can add as many Junior ISAs as you need for your children. You can also add up to 5 friends or family members for free. UK and US trades are just £3.99.
All our plans allow you to invest as little as £25 a month using our free regular investing service.
Other fees such as stamp duty and foreign exchange charges may apply.
On Investor Essentials, you must be set up to pay your fees by direct debit, and receive your communications electronically. Full terms for our Investor Essentials plan can be found here.
Read more: Our charges
*We've crunched the numbers: If you invested our ISA, after 30 years you'd be better off by £30k. That's a £1,000 difference a year, just for using us over another platform. Lots of things can affect your final figure. But the lower the fees, the more money you'll keep for yourself. This is just for illustration if all other factors were the same. Don't just take our word for it: check our working out here.