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Post by scepticalinvestor on Mar 15, 2024 9:27:49 GMT
If your Kuflink IFISA is maturing, can you just chose to opt out of the auto reinvestment, and then do an ISA transfer on the (non reinvested) cash component. Previously, I have had no problems transferring legacy cash ISAs into & between P2P IFISA investments (Kuflink, CrowdProperty, Loanpad), so I don't see it why it should not operate same in reverse; i.e, complete an ISA cash transfer with your new provider and they collect the ISA cash from Kuflink while it remains within the tax free wrapper. NB. Kuflink will charge you for any ISA transfer I have filled in a cash ISA transfer from my Kuflink to Aldermore account to be opened at maturity, as I thought when my Kuflink Auto invest IFISA matures ( I have clicked the re-pay button) it should be sat in my account as cash still in my ISA wrapper. Hopefully it won't get rejected. I think you’ve ended up doing the right thing! The last time I was looking to transfer out a P2P IFISA to a high-street cash ISA, the bank said they don’t support transferring in from an IFISA. I wasn’t convinced so I tried a back door route by selling the loans in the IFISA first so I was 100% in cash and then initiated the transfer like it was a Cash ISA, told the bank that the cash ISA had a reference number but no sort code and account number. The transfer went though fine!
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