Set up an Abundance ISA
You need to set up an Abundance ISA account before you request an ISA transfer, as we need your authority to request the transfer from the existing ISA manager on your behalf. You can find out how to do this here.
Choose ISAs to transfer
You can transfer any amount from your existing ISAs to your Abundance ISA, providing it is from a previous tax year (2015/16 or earlier). Transfers to an Abundance ISA are always made in cash, so if you have a Stocks & Shares ISA your previous ISA manager must sell these on your behalf and transfer the cash to your Abundance ISA. In this instance you will be liquidating existing investments, so you should consider carefully whether this is in your best interests and take advice as necessary.
If you want to transfer money that you have subscribed to an ISA in the current tax year, you must transfer the full amount that you have subscribed in that year (plus any income earned) to your Abundance ISA.
Some ISA managers may charge to transfer an ISA, so please make sure you check this first.
Complete transfer form
Once you are ready to transfer your ISAs you need to complete a transfer form for each ISA you wish to transfer. You can download a transfer form from within your Abundance ISA portfolio. You will need details such as the ISA manager names and account numbers. Return these forms to us and we will do the rest.
The process of transferring your ISA usually takes between 15 - 30 days, depending on the provider and type of ISA being transferred. This is worth bearing in mind if you would like to invest in a specific project.
Any uninvested cash in your Abundance ISA is held in a trust account with HSBC, so you benefit from the FSCS Deposit Protection Scheme until you invest your money into projects. Learn more.
Get a 2% AER return on your ISA cash
Until 31 May 2017 we are offering a 2% AER (Annual Equivalent Rate) return on the cash balance of your Abundance ISA*. This means you can start earning a tax free return on your ISA cash before you invest it into projects.
We have a range of projects launching over the coming months for you invest in before the promotional period ends. But you are free to keep your cash in your Abundance ISA once it has been subscribed, which means you can build your portfolio of ISA investments with us over a timescale that suits you. Learn more.
Your ISA funds will be held as cash in your Abundance ISA account, ready for you to invest in projects. It’s up to you exactly which projects you invest in and how much you would like to put in to each as there is only a £5 minimum investment per project. You can view our current open projects here.