Instant Access Cash ISA transfer

  • JSA's Avatar
    Fresh Eyes
    I opened a new Tesco Instant Access Cash ISA yesterday with a £1 deposit and then successfully transferred the remaining £19999 from an existing Tesco Instant Access Cash ISA. But I have been unable to transfer the remaining balance of £14900 on my old account to the new account. The new account is also saying that I have used up all the years ISA allowance when I was only trying to transfer past years allowances (at the end of the bonus period) to get the new higher rate. I have tried on PC, IPad and IPhone without success. My reading of the new rules is that what I am trying to do is perfectly legitimate.

    What are my options?
  • 1 Reply

  • Verified Answer

    ChristopherP's Avatar
    Your Community Expert
    Verified Answer
    @JSA Hey there, thanks for getting in touch!

    You can read the rules around this on our website here.

    You can transfer funds saved in previous tax years without counting towards your annual ISA limit, even if it exceeds £20,000. We’ll handle the transfer with your current ISA provider on your behalf. It's important not to withdraw and move the funds yourself, as doing so would lose it’s tax free benefits and contribute to your annual allowance.

    If you call the Savings team on 0345 678 5678 (Mon - Fri: 8am - 6pm, Sat - Sun: 9am - 2pm) they will be able to look into this for you.


    If you need to ask a question about a Tesco Bank product, you can make a post in Help & Support here

    Also, feel free to Introduce Yourself
    !