Notices

ISA Transfers

Move your ISA to Family Building Society - find out the different ways to transfer your ISA and the options that are available to you

Already have an ISA elsewhere? You can transfer it to Family Building Society without losing your tax-free benefits. Whether you’re a new customer or already have an existing ISA with us, we can guide you through the process.

How to transfer your ISA

  1. Check that your existing ISA accepts transfers.
  2. Complete our ISA Transfer Form with your current provider’s details.
  3. Send the form to us either by emailing savings.service@familybsoc.co.uk, online via secure document upload, post or visiting our Epsom branch.
  4. Our Family Service Team will action the transfer for you.
  5. We will confirm by letter once the transfer is complete and the funds have been credited to your existing Family Building Society ISA.
  1. Select which Family Building Society ISA you would like to open online. You will then need to complete our ISA Transfer Form. 
  2. If you would prefer to not open the ISA online, complete both a new ISA Application Form and our ISA Transfer Form.
  3. Send the relevant forms to us. This can be done either by emailing savings.service@familybsoc.co.uk, online via secure document upload, post or visiting our Epsom branch.
  4. Our Family Service Team will contact your existing provider to arrange the transfer.
  5. We will confirm by letter once the transfer is complete and the funds have been credited to your new ISA.
  1. Complete a new ISA Application Form – this can be done either online, by post or in branch.
  2. To fund the account using funds from an existing Family Building Society ISA, you can request this on the application form.
  3. We will action the internal transfer for you and confirm by letter once completed.

Please note: You are allowed to open and pay into multiple ISAs of the same type in the same tax year (except for Lifetime and Junior ISAs). However, we will only allow new subscriptions for this tax year to be made into one ISA held with us. 

  1. You will need to get in touch with the provider you wish to move to.
  2. They will provide you with their own ISA transfer form to complete.
  3. Your new provider will then contact us directly to initiate and manage the transfer.

FAQs

  • New customers: if you don’t already hold an ISA with us, you’ll need to apply for one of our Cash ISAs and complete an ISA Transfer Form
  • Existing customers: if you already have an ISA with us that accepts additional funds, you can transfer from another provider into it. Alternatively, you may open a new Family Building Society ISA for the transferred funds. Please note that we are not part of the electronic ISA transfer database, so your current provider must be able to send and/or receive cheques in order for the transfer to take place.

Please note: We accept full transfers only for current tax year subscriptions—partial transfers are not permitted for these. However, partial transfers are allowed for subscriptions from previous tax years.

 

  • Cash ISAs and Junior Cash ISAs from other providers.
  • Full or partial transfers of previous tax years’ ISA balances.
  • Current tax year subscriptions, but only if the full amount is transferred.

Most of our Cash ISAs accept transfers, subject to their specific terms and conditions:

  • Flexible ISA
  • Market Tracker Cash ISA
  • Junior Cash ISA
  • Fixed rate and notice Cash ISAs (please check individual product terms for rules on notice periods and maturity dates).

ISA transfers usually take up to 15 working days from when we receive all required documents. The speed can depend on your existing provider, we will send you a letter once the transfer is complete.

Charges

Early Access Charges

Transfers In

  • We do not charge fees for transferring funds into a Family Building Society ISA, but your current provider may charge if you break a notice period or fixed term.

Transfers Out

  • Notice ISAs – If you transfer out without giving the required notice, we will deduct daily interest equivalent to the length of the notice period
  • Fixed Term ISAs – If you transfer out before the end of your fixed term, Early Access Charges will apply. Please see the section on 'Early Access Charges' for more information.

The charge depends on the term you originally chose and how much time is left when you close your account. The closer you are to the end of the term, the lower the charge (as shown in the table below). We work out the charge using your closing balance and the interest rate at the time you close the account.

For example, if you chose a two-year fixed term and close your account during the second year, the charge would be equal to 180 days’ interest at the rate that applies at that time. 

Please note: If the Early Access Charge is greater than the interest earned at the point of closure, some of the capital invested could be lost.

For full details please refer to the 'Taking Money Out' section of the ISA Product Features leaflet.

Withdrawals

  • Notice ISAs - Withdrawals are available without an access charge when the required notice period has been served. Alternatively, you may withdraw without giving notice, subject to the loss of interest equivalent to the notice period on the total amount withdrawn. For more information on how to withdraw from a Notice ISA, please see the 'Taking Money Out' section of the Product Features leaflet
  • Fixed Term ISAs - Withdrawals are not permitted prior to maturity of the fixed rate term; however, the account can be closed before maturity subject to Early Access Charges. Please see the section on 'Early Access Charges' for more information.

 

Table of early withdrawal penalties

Help & Support

If you have any questions, our friendly Family Service Team are here to help. Call us on 03330 140144, email savings.service@familybsoc.co.uk or send us a secure message via the Online Service.