Post by ozaz on Jun 16, 2017 9:04:50 GMT
I'd like to transfer money from a cash ISA into Zopa's new IFISA. Unfortunately, Zopa does not seem to be accepting transfers from other ISAs until at least August, and I don't think it is 100% guaranteed that they will do so.
My cash ISA is flexible and only has money from previous years. I am thinking of withdrawing some money from this and subscribing it to the Zopa ISA. Later in the year when it becomes available, I will replace the money withdrawn from my flexible cash ISA. This does not follow standard ISA transfer wisdom (which is to use transfer authority forms rather than withdraw money from one ISA and pay into another). But because a flexible ISA is involved, allowing me to replace this money later in the year without affecting my £20K 17/18 limit, I don't see much of an issue. The only issue I see is I cut myself off from subscribing to a different IFISA later in the year (compared to if I was able to do a direct transfer).
Am I missing anything?
My cash ISA is flexible and only has money from previous years. I am thinking of withdrawing some money from this and subscribing it to the Zopa ISA. Later in the year when it becomes available, I will replace the money withdrawn from my flexible cash ISA. This does not follow standard ISA transfer wisdom (which is to use transfer authority forms rather than withdraw money from one ISA and pay into another). But because a flexible ISA is involved, allowing me to replace this money later in the year without affecting my £20K 17/18 limit, I don't see much of an issue. The only issue I see is I cut myself off from subscribing to a different IFISA later in the year (compared to if I was able to do a direct transfer).
Am I missing anything?
