In this brief blog, we are going to talk about the Barclays ISA transfer process.
What is the Barclays ISA transfer?
A Barclays ISA transfer is when you want to transfer your ISA from a different ISA provider toa Barclays ISA.
Does Barclays charge to transfer ISA?
Barclays will not charge you to transfer your ISA to them but there may be other costs associated with your ISA such as transaction charges and account management fees.
What do you need to transfer into a Barclays cash ISA?
To complete a Barclays transfer ISA into a cash ISA you will need the below:
Your full name
Your sort code and account number
The name of yourISA provider which you are transferring from
The amount you are transferring
Any reference numbers which may be necessary
Details of your ISA subscriptions
Can you transfer money between your cash and investment ISAs?
With Barclays Can transfer money between your cash and Investment ISAs which you hold at Barclays. By doing this you won’t have to withdraw money from your ISA to pay into another ISA as this may affect your annual ISA contribution allowance.
To transfer money between your Barlcays cahs and INvestment ISAs youcan do this via online banking by filling in a Barclays ISA transfer form or you can call Barclays on 0345 744 5445, alternatively you can go into a Barclays branch and ask for a Barclays ISA trasnfer to be done.
A Barclays ISA transfer can take as long as 15 days for a cash ISS transfer and can take much longer for an investment ISA transfer. Unfortunately whilst the investment Barclays ISA transfer happens you won’t be able to make any investments with the funds which are being transferred.
For Barclays Stockbrokers
You will need to complete an ISA transfer form and post it to Barclays. You can find the Barclays ISA transfer form on the Barclays investments page here.
For Barclays direct investing
You should log in to your portfolio, open the ‘Manage’ dropdown menu next to the account you want to transfer cash to, select ‘Pay in’ and follow the on-screen instructions.
You can find more information about the above Barclays ISA transfer process here:
On transferring your ISA online, Barclays States the following
“How do I transfer an ISA in Online Banking?
To get started, select the ‘Transfer an ISA’ option from your Online Banking menu.
You’ll need to have with you:
The details of your existing ISA, including the sort code and account number
Your National Insurance number
First, we’ll ask you whether you’re transferring a cash or investment ISA to us and whether you’re transferring from another provider or from another Barclays ISA.
You then need to choose whether you want to transfer all or part of the balance of your existing ISA.
If you’ve already paid into an ISA in the current tax year (6 April to 5 April each year), you’ll need to transfer all of the money you paid in so far this tax year. But you can choose to transfer only part of the money you’ve paid in during previous years if you want to.
Remember, if you’ve already withdrawn money you paid in previous tax years and haven’t replaced it before transferring to your new provider, it’ll count towards your annual ISA allowance when you replace it with your new provider.
Finally, we’ll ask you to confirm that the details of your transfer are correct.
And that’s it – all done.
If you’re transferring from a cash ISA you currently have with us, the transfer should take less than two days. If the ISA you’re transferring from is one you hold with another provider, it can take up to 15 working days. For investment ISAs, the transfer can take up to 30 days.
Barclays direct investing
Before you start, you need to have a Barclays Investment Account or Investment ISA. Then you’ll need to complete a simple, online transfer request, identifying the accounts or investments that you’d like to transfer to us.
Transferring your ISAs doesn’t affect their tax-efficient status. But you should make sure that you don’t have to pay penalties or give up valuable benefits.
You need the following information to request a transfer:
Your account or plan number from your current provider
An up-to-date valuation or statement from your current provider
Details of the investments or account you want to transfer
We don’t charge you to transfer your ISA, but there are some small costs for your investment transactions and account servicing once the transfer is complete.”
You can find more information about this Barclays ISA transfer process here:
In this brief guide we elaborated on the Barclays ISA transfer process.
If you need financial advice and you live in the UK then you could contact the Money Advice service over the phone or via chat for impartial advice.
You can also contact the debt charity “Step Change” if you are in debt and need help.