Cash ISA transfers: what they are and how they work

What is an ISA transfer? 

An ISA transfer is when you move your savings from one ISA to another. Either to a different provider or to a different ISA with the same provider.

If you withdraw the money and pay it into a new ISA yourself, you risk losing your tax-free* benefits.

By following our ISA transfer process, you can move your money without losing its tax-free status.

Why transfer an ISA?

You may choose to transfer an ISA to move to a better interest rate.

Perhaps you want to move your money to a different type of ISA.

Or maybe you want to bring multiple ISAs together and make them easier to manage.

An ISA transfer lets you do this while keeping your savings tax-free.

What types of ISA can you transfer? 

You can usually transfer a cash ISA to another cash ISA. Or transfer a cash ISA to a Stocks & Shares ISA.

The exact options depend on the provider and the type of ISA you hold.

Before you start, check if:

• Your current ISA charges a fee to transfer out.
• You'd lose interest for closing or transferring early.
• The ISA you’re moving to accepts transfers in.

How to transfer an ISA

To transfer an ISA, you should always contact the new provider, not the one you’re transferring from.

Following these steps helps make sure your savings keep their tax-free status:

Make an ISA transfer with Principality

Here's how to get started making an ISA transfer with us. Visit our ISA transfers page for full details and FAQs. 

Transferring an ISA to Principality

To transfer a cash ISA from another provider to us, either

• Log in to your online profile and submit your transfer request online. 
• Download a Cash ISA transfer form.

To transfer a Stocks & Shares ISA to a Principality cash ISA, use a Stocks & Shares ISA Transfer Form.

Remember you can always visit or contact your local branch for support.

Transferring between Principality ISAs

If you’re transferring from one Principality ISA to another, you must transfer the full balance. You can’t make a partial transfer.

To transfer between Principality ISAs, complete an Internal ISA transfer form.

Once you've completed your form

• Download a physical copy and drop it at a branch, or
• Post it to the Savings Team, Principality Building Society, PO Box 89, Queen Street, Cardiff, CF10 1UA
• Visit your local branch for any help completing the form.

Important things to remember

• Always use your provider’s ISA transfer process; don’t withdraw the money yourself.
• Check for fees or loss of interest before transferring.
• Make sure you understand whether you need to transfer the full balance, or whether partial transfers are allowed. (We don't allow partial transfers between Principality ISAs). 
   

*Tax-free means the interest you earn isn't subject to UK Income Tax and Captial Gains Tax. Tax treatment depends on your individual circumstances and could change in the future.