A guide to transferring ISAs

An ISA transfer allows you to transfer ISA funds to another ISA provider whilst keeping them within the tax-free wrapper.

Step 1

If you have an ISA with Funding Circle and you’re looking to transfer some or all of your funds to another provider, you’ll need to get in touch with the ISA provider you want to transfer your funds to in order to complete the required form. Typically, you’ll be able to download the transfer form directly from the new provider’s website.  

There are two types of transfer requests; one is a full transfer and the other is a partial transfer. 

Important to note: you can only transfer available funds to another provider. We’re unable to transfer funds which are currently lent to businesses – you’ll need to wait for the repayments to accumulate first as available funds.

Partial transfer:

• This is a request to transfer a portion of the funds held in your Funding Circle ISA whilst leaving the remainder in the tax-free ISA wrapper 
• To request this, you can either provide a specific amount you wish to transfer on your ISA transfer form or select that you wish to transfer ‘all available funds at time of transfer’ 
• Once we receive the request, we’ll check to ensure you have sufficient available funds in your account and then proceed with the transfer
• It’s important to note, you can only request a partial transfer of funds that were initially paid in during previous tax years

Full transfer:

• This is a request to transfer the total value of your Funding Circle ISA
• To request this, you must have no outstanding amount lent to businesses as this transfer requires the total balance to be available in your account 
• It’s important to note, you can request a full transfer of funds that were paid in during current and/or previous tax years

You may also be required to provide your unique reference number when filling out the form from your ISA manager. To get this, log in to your Funding Circle ISA account and your reference number will be available in the banner at the top of the screen. 

Step 2

Once you’ve completed the form, your ISA manager will send this to us by post or electronically. You may want to request they send it to us electronically, as this will speed up the process and allow us to transfer your ISA quicker.

Once we’ve received your form, we’ll check that the information provided by your ISA manager matches with the details we hold for you, and that all the documentation relevant to your transfer has been provided. If everything is in order, we’ll transfer the funds to the bank details provided.

If, for any reason, we’re missing any information, we’ll reach out to the ISA manager and ask them to provide this. If there is an issue on your side, we’ll also send an email to you to see if we can resolve the issue promptly, so that we can continue to proceed with the transfer out.

How long will it take?

Upon receiving the ISA request from the new provider, we aim to complete ISA transfers within 15 days, however it’s important that all the information provided is accurate and the correct balance is available in the account. The maximum time this process can take is 30 days, as set out in the  Funding Circle ISA Terms and Conditions.