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Transfer an ISA

If you have an existing ISA with another provider, you can transfer your ISA to an SCM Direct stocks and shares ISA whenever you wish. We accept partial transfers of an ISA (subject to our £10,000 minimum investment level).

You cannot transfer your ISA by closing it and opening a new stock and shares ISA with us.

Your existing ISA manager cannot stop you transferring, but they may make you pay an exit charge, or make a charge for selling your existing ISA investments; as SCM Direct only accepts cash transfers (you may want to consider this before transferring your ISA).

The ISA rules allow you to transfer between stocks and shares ISA and cash ISAs as you wish. HOWEVER, if you want to transfer the money you have put into your ISA in the current tax year, you must transfer all of it.

You can also transfer all or some of the money you have been putting into your ISA in previous years if you wish.