If your Investment ISA is held directly with the fund provider, and not on the Chelsea FundStore platform, and you wish to transfer out of the fund(s) you hold into a new fund, or funds, with a different provider, you will be carrying out a cash transfer. It is important to note that, although your investments are sold in order for the money to be transferred across to the new provider, the ISA wrapper is never lost and the ISA still counts for the tax year in which you took it out.
The new reinvestment of your ISA can either be on the FundStore platform or off-platform, directly with a fund provider.
An ISA transfer is different from a switch or re-registration.
If you would like to transfer your ISA into a new fund on the platform please download a Chelsea FundStore ISA Transfer form or call us for a copy. If you would like to transfer your ISA directly to a fund provider, please contact us on 020 7384 7300 for the appropriate application form. You do not need to contact your existing fund provider.
The transfer process takes between two and five weeks to be completed but your money will only be out of the market for a few days whilst it is transferred from the old fund provider to the new fund provider, or platform.
If you already hold your investments on the Chelsea FundStore platform and you would like to sell out of one fund and move into another, this is called a switch. Switching is totally free on the platform and is a great way of getting rid of any underperforming funds you hold.
Your units in the old fund will be sold on one day and the proceeds used to purchase your new fund on the next business day. This means that you will be out of the market for only one working day, which is a lot quicker than transferring from one fund provider to another, if your investments are held off-platform.
You can carry out a switch quickly and easily online by logging into your account. Alternatively you can contact us by phone or post.
If your holdings are not on the platform and you would like to take advantage of the benefits of the platform, including swift, free switching, please read more on the Transfer to the FundStore page.
If you hold an investment fund outside an ISA, on the FundStore platform, which you would like to put into an ISA, on the platform, you can complete an Investment Funds to ISA application form. Your investment fund will be sold before it can be reinvested within the ISA, but you will not be out of the market for more than a few days at most.