An ISA transfer is when your money is moved from one ISA product to another via the ISA transfer process so your savings keep their tax-free benefit.

• You can move ISAs from one provider to another, or switch between different ISA products with the same organisation.
• You may be able to transfer some or all of the total value of your ISA, depending on your needs (and your ISA terms and conditions).
• There’s no limit to the number of ISAs you can transfer. While you can transfer at any time, some products have charges - for example if you’re moving within the fixed rate period. It’s important to check with your current provider for any restrictions.

There are a few reasons why you might think about transferring your ISA. You could:

• Get better returns: Transferring your ISA could mean your savings could benefit from higher interest rates, so transferring could really help your sunny day savings grow.
• Make your savings easier to manage:  You may have ISA savings from previous tax years that you want to bring together. This could make it easier to manage your finances and understand how you’re working towards your savings goals.
• Address your changing savings goals: Maybe you've recently ticked off some big financial goals - like saving for a big renovation, helping pay for a family wedding, or buying a new car - and you're ready to set money aside for something new.

Whatever your reason for transferring, it’s important to move to an ISA that best suits your individual needs, so you can add some extra sunshine to your feel-good fund. 

To avoid the risk of charges, it’s always best to speak to your provider before making any decisions.

Step 2 – Decide how you’re going to transfer: There are multiple ways you can ask us to complete an ISA transfer – whether from another provider or from one you currently have with us – to a new cash ISA with us. You can request this transfer through our Online Services, call us on 0800 121 8899 or visit one of our branches.

When you’re ready to complete an ISA transfer, you should always contact your ISA provider to complete this for you. They’ll arrange for your money to be moved across into your new ISA account so your savings keep their tax-free status.

If you try to do the transfer yourself by withdrawing your money into a current or savings account and then add this to a new ISA, this will be treated as a new deposit and count towards your annual allowance. Because of this, your savings may lose their tax-free status.

Step 3: We’ll take care of the rest: Once you’ve made the decision to transfer your ISA to Coventry Building Society, our team will get in touch with your current ISA provider and arrange the transfer for you. You can then sit back, safe in the knowledge that you’ve chosen an ISA that suits your personal circumstances.

We allow full transfers of current year's deposits and full and partial transfer of previous years' deposits (depending on your ISA terms and conditions). If you want to do a full transfer and you’ve already opened your new ISA, you can use our Online Services to complete the transfer. It is very important to check the terms and conditions of your existing ISA to see if there are any charges for a transfer. You can also reach us on 0800 121 8899 or visit your local branch if you’d like some help.

If you want to do a partial transfer of previous tax years’ deposits or haven’t opened a new ISA yet, just call us or visit your local branch to open the account and ask us for an ISA transfer. You can carry out an ISA transfer through Online Services, on the phone via 0800 121 8899 or with the help of a friendly colleague in one of our branches.

At Coventry Building Society, we’re here to help you save for the sunny days, so you can do more of the things that make you smile. Our cash ISAs could be a great, tax-free way to help your savings grow.