Cash ISA Transfer Service
The Cash ISA Transfer Service automates the communication between the two financial organisations (new and old) involved in a Cash ISA transfer. It replaces the paper-based process only when both ISA providers are participants of the service; if one provider does not use the service, then the transfer will have to be completed via the manual paper-based process.
Launched in 2012, the service was developed in response to the changing regulatory landscape relating to the speed of the transfer of Cash ISAs and has gone on to facilitate the transfer of over six million ISAs across 77 participating brands.
The service supports transfers of:
Cash ISA providers wishing to apply to use the service should contact our team on email@example.com to request an application form. Once we’ve received the application and assessed it against the eligibility criteria, successful applicants will be given access to documentation to prepare for using the service, including a take-on process which will incorporate a testing requirement.
Applicants will also need to obtain technology from a Bacs or Faster Payment participant payment service provider (PSP) to enable them to submit and receive messages in a secure and safe manner.