ISA transfers | How to transfer a cash ISA (2024)

Information:

People often switch ISA managers. Some do it because they’re looking for a better interest rate. Others do it to bring their accounts under one roof, with one manager.

However, keep in mind that not all ISAs accept transfers in.

These are the main government rules on transferring a cash ISA.

If you're 18 or over, you can open multiple cash ISAs every year. As long as you do not deposit more than your ISA allowance you can split your allowance between cash ISAs with different ISA managers. As the Nationwide cash ISA is a portfolio ISA you can hold more than one Nationwide cash ISA product within your portfolio. You can then split your allowance between the products.

If you were 16 or 17 on 5 April 2024 and do not have a cash ISA, some ISA managers will allow you to open a single cash ISA. If you already have a cash ISA, you can still pay money into it, as long as you don’t exceed your annual ISA allowance. You can also transfer your cash ISA or reinvest it into a new cash ISA when it matures. Different ISA managers will have different rules about how you transfer your cash ISA.

Check that:

• the new ISA you want to open accepts transfers in
• there’s no charge if you transfer your current ISA – for example, if it’s a fixed-term ISA that charges for moving the money or for switching managers
• you are allowed to transfer money from all of your existing ISAs, or if you’re limited to only moving money in your current ‘active’ ISA

If you’re transferring out of a Nationwide cash ISA, make sure you’re happy to transfer all the money you’ve paid in to all your Nationwide cash ISA(s) in the current tax year. 

Check the terms and conditions for your account.

See our cash ISAs

You can make the transfer in your nearest branch. You can transfer all or some of the money from your cash ISA.

However, please be aware that we can’t accept partial transfers of the money you’ve paid into your cash ISA(s) during this current tax year. You’ll need to transfer all the money you’ve paid into your cash ISA(s) in this current tax year.

You can also choose to close the account you're transferring from - and make sure any unpaid interest is also transferred to your Nationwide cash ISA.

To transfer your cash ISA to us, you’ll need:

• your Nationwide cash ISA account number
• your National Insurance number
• the account details of the cash ISA you're transferring to us.

You’ll need to speak to your new manager, who will be able to arrange the transfer for you.

If they ask for your Nationwide ISA details, use these:

• Account number: 33333334
• Sort code: 070093
• Your roll/reference number

Your roll/reference number looks like this: 1234/123456789. You can find it:

• printed on the inside cover of your passbook
• when you log in to the Internet Bank
• or for Fixed Rate ISAs, on the front of the certificate you received when you opened your account.

We'll complete your transfer to another ISA manager within 5 working days of receiving your request.

If you have less than £100,000 in your Nationwide ISA, we'll transfer your money electronically. We'll do this through the Faster Payments service once we've closed your account. Your new manager will receive your money by the end of the next working day.

If you have £100,000 or more in your Nationwide ISA, we'll transfer your money by cheque. We'll post the cheque to your new manager once we've closed your account. They'll backdate the cheque so you don't lose out on any interest.

You can transfer an active cash ISA to a new manager. If you decide to transfer, you’ll need to transfer all the money you’ve paid into your Nationwide cash ISA(s) during the current tax year.

If you’ve paid into multiple Nationwide cash ISAs you’ll need to transfer all the money you have paid in during the current tax year.

If you transfer your current-year ISA, we will tell your new ISA manager how much more you can pay in during the tax year.

If you hold a matured Child Trust Fund with another provider, you can transfer it to a Nationwide cash ISA and keep the tax-free status on your savings.

To transfer a matured Child Trust Fund to a Nationwide cash ISA, you’ll need to follow the ISA transfer process. This applies even if the matured Child Trust Fund is not an ISA.

Browse our cash ISA products and apply

More on ISA flexibility

When you apply for a Nationwide cash ISA, you may have the option to transfer in a cash ISA you have with another manager.

You can only transfer when you apply online if your current ISA manager is listed here. Keep in mind, this list could change at any time.

If you're looking to close your ISA early, you may be charged a fee. Check the terms and conditions for your account to find out.

How you close and move money from your ISA can depend on a number of things, including:

• the type of ISA you have
• if you're closing your ISA early or it's about to mature
• the account you want to move your money to.

Find out how to close your ISA.

How to close your ISA