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Cash ISA

How do I move my Cash ISA with another provider to Tesco Bank?

You need to open an account with us either via Online Banking or via the phone. Once open, we'll include a Cash ISA transfer form with your Welcome Pack if you requested to fund your account with a transfer during your application.

After you have returned any documents requested in your Welcome Pack, you can also download a Cash ISA transfer form from Online Banking by clicking on your Tesco Bank Cash ISA account and clicking the “Find out more” button next to “Cash ISA transfer".

Once you return the form to us, we’ll ask your existing Cash ISA provider within 5 business days to arrange for your funds to be transferred to your Tesco Bank Cash ISA. For Cash ISAs, they have 5 business days from receiving the request to do this and the transfer should be completed within 15 business days of us receiving your form. We will start paying interest from the day your existing Cash ISA provider sends us your money or 16 business days after we receive your form (if this is earlier). Transfers from ISAs other than Cash ISAs may take up to 30 days.

Comments

I have an existing Tesco Instant Access ISA. in addition, a easy access Cash ISA with another provider. Could I move my ISA with the other provider to merge with My Tesco ISA?

Hi @TessCom

 

Thanks for getting in touch. You should be able to transfer the other ISA to Tesco Bank. To double check and to get the transfer form, call us on 0345 678 5678, available between 8am - 10pm on weekdays and 9am - 5pm at the weekend. 

I have opened a Tesco cash ISA but have used my ISA transfer form. I think I can download another form but I don't know where to get one.

Hi @rlholding, you can have another form to complete an additional transfer but we would need to speak with you in order to arrange this and send the form. Please give us a call on 0345 678 5678 if you haven't done so already. They're available Mon - Fri 8am - 10pm and weekends from 9am - 5pm.

Hi, I recently transfered my ISA to Tesco bank but 'the amount I can top up with this tax year'  is taking the transfer amount into account. e.g. transfer ISA of £5k, still allowed upto £20k in 2019/20 tax year (not just £15k). I thought the transfer, as this was already an ISA with another provider, was just that and didn't effect the amount of topup remaining.  to Please could you clarify? Thank you.

Hi Seejayez, can I clarify that you're transferring £5000 and this would leave £15000 within the allowance? The maximum across all providers is £20000 in total.

Hi RossM,

 I had an ISA with another provider where I had saved in previous tax years (e.g. £5000), but not added anything this 19/20 tax year. I then transfered my  ISA to Tescobank using the Cash ISA transfer form. I thought that this would preserve my £20,000 allowance as this was a transfer, however I am getting a message with as if the amount was added this tax year (e.g. You can still add £15,000).

Thanks in advance.

Yeah that doesn't sound right @Seejayez as it shouldn't effect this years allowance. Can you give us a quick call on 0345 678 5678 (Mon - Fri: 8am - 10pm, Sat - Sun: 9am - 5pm) so we can look into this?

Hi RossM,

 Update.

 Apparently I do still have the full (£20K) allowance for this tax year, it just doesn't show correctly on my account online or on the app. I was told this would be corrected overnight, but it was still showing the reduced amount this morning so I called back. I have requested this is rectified by the appropriate team.

 I will check again in a week or so and hopefully it will show as correct then.