If you’re paying more than you need to in platform fees, moving your ISA is usually free and doesn’t affect your allowance. The one rule that matters most is to transfer it, not withdraw it. Here’s how it works and what each platform charges.
How an ISA transfer works
- Open an ISA with the new provider. You don’t need to close the old one first.
- Ask the new provider to transfer it in. Most platforms have an online transfer form. You’ll need your old provider’s name and your account number.
- Choose cash or in-specie (see below), and whether to move all or part of it.
- The providers handle the rest. The money or investments move directly between them.
Never withdraw the money and pay it in yourself. A withdrawal takes the money out of the ISA wrapper for good. Paying it into the new ISA counts as a new subscription and uses up your £20,000 allowance. A £100,000 ISA withdrawn this way can’t be put back into an ISA in one go.
A transfer doesn’t count as a subscription, so you can move an ISA of any size without touching your allowance for the year.
Cash vs in-specie transfers
In-specie moves your actual funds and shares without selling them. You stay invested the whole time. This only works if the new platform can hold the same investments. Funds sometimes move into a different share class at the new platform, which is normal.
Cash sells your investments, moves the money and you reinvest it at the new platform. It’s simpler, but you’re out of the market while the transfer goes through. If prices rise in that time, you buy back in higher. You may also pay dealing charges to sell.
If both platforms can hold what you own, in-specie is usually the better choice for a large ISA. If you’re moving to a platform with a narrower range, like an ETF-only one, some or all of it will have to move as cash.
How long it takes
HMRC’s guidance says:
- Stocks & Shares ISA: no more than 30 calendar days
- Cash ISA: no more than 15 working days
Cash transfers between modern platforms often complete in one to two weeks. In-specie transfers involving several funds can take longer.
Transfer-out fees by platform
| Platform | Transfer out | Notes |
|---|---|---|
| AJ Bell | Free | |
| Barclays Smart Investor | Free | |
| Dodl | Free | |
| Fidelity | Free | |
| Freetrade | Free, except £17 per US holding | Non-UK, non-US holdings must be sold and sent as cash |
| Hargreaves Lansdown | Free | HL scrapped its exit fees |
| Interactive Investor | Free | |
| InvestEngine | Free | Transfers out are made in cash |
| Trading 212 | Free | |
| Vanguard | Free |
Exit fees used to be common, but none of the major platforms charges a general one now. The real costs of switching are dealing charges if you sell, and time out of the market on a cash transfer.
Transfer rules to know
- Current tax year: if you’ve paid into the ISA this tax year and want to transfer that money, you have to transfer all of this year’s payments.
- Previous tax years: you can transfer part or all of it.
- Several ISAs: you can transfer as many ISAs as you like into one, which is a simple way to consolidate. See our guide to holding multiple ISAs.
- Lifetime ISAs: transferring out of a Lifetime ISA into another type of ISA counts as a withdrawal and carries the 25% government withdrawal charge. Transfers between Lifetime ISAs are fine.
- Junior ISAs: these can be transferred between providers at any time. See our Junior ISA fees comparison.
Cash ISA to Stocks & Shares ISA, and the April 2027 change
You can transfer a Cash ISA into a Stocks & Shares ISA at any time. That won’t change.
Going the other way will. From 6 April 2027, people under 65 won’t be able to transfer from a Stocks & Shares ISA into a Cash ISA. If you want to move investments into a Cash ISA, you have until 5 April 2027 to do it. The cash ISA allowance for under-65s also falls to £12,000 from that date, within the same overall £20,000. See our ISA deadline 2027 checklist for everything to do before then.
Transferring to Vanguard
Vanguard accepts ISA transfers in and charges nothing to leave. Vanguard only holds its own funds and ETFs, so anything else in your ISA has to be sold and moved as cash. Check its fees first, too. Vanguard charges a £4 a month minimum fee below £32,000, which can make it more expensive than staying put on a small ISA. See Vanguard ISA fees explained.
Transferring to a zero-fee platform
Trading 212 and InvestEngine charge no platform fee, but neither holds funds (unit trusts and OEICs). If your ISA is mostly funds, it will need to move as cash and be reinvested in ETFs. Many index funds have an ETF equivalent that tracks the same index. Barclays is the main option for holding funds with no platform fee.
Is it worth transferring?
The savings can be large. At £100,000 in funds:
- Hargreaves Lansdown: £350 a year plus £1.95 per fund trade
- AJ Bell: £250 a year plus £1.50 per fund trade
- Vanguard: £150 a year
- Barclays Smart Investor: £0
Over 10 years, moving £100,000 from HL to Barclays saves £3,500 in platform fees before any growth on the savings. See when it makes sense to leave HL, or use the fee calculator to compare your current platform with every other at your portfolio size.
Based on HMRC guidance and provider charges as of October 2026. Check with both providers before you transfer.