If you’re looking for a better interest rate or want to move your ISA so they’re all in one place you might be considering an ISA transfer, however, it’s important to note that not all ISA providers or ISA accounts accept transfers in.

If you’re unsure whether the Melton Building Society ISA you’re considering accepts transfers in, you can check the product details found here.

To transfer your ISA from another provider to the Melton, you’ll need to open an account or already have an ISA account that accepts transfers in and complete an ISA transfer form.

If you’ve already paid money into an ISA this tax year, you will need to check whether the provider you’re transferring to accepts partial or full transfers of current years subscriptions.

Melton Building Society currently only accepts ISA transfers in from other providers by cheque through the ISA transfer process.

How do I transfer my ISA?

Don’t withdraw your money from an ISA as your money will lose its tax-free status. If you want to transfer your ISA it’s important to go through the ISA transfer process to transfer the balance so that you don’t deposit into more than one cash ISA in a tax year, and that your funds don’t lose their tax-free status. Your new and existing ISA providers will help you do this. They will work together to transfer your balance across to your new ISA.

Before the transfer, you will need to check:

• that the ISA you want to open accepts ISA transfers in
• that you are comfortable with any charge and / or notice period to transfer your current ISA.

Transferring to a new Melton Building Society ISA

If you don’t already have a cash ISA with the Melton, you will be able to make the transfer when opening a new cash ISA through the ISA transfer process.

To do this, please visit one of our branches. Alternatively, you can complete an application form along with the ISA transfer form available on the individual account pages, and post them to us for processing. If you need any help completing these forms, you can speak to our savings team by calling 01664 414141.

I already have a Melton Building Society ISA, can I transfer into this?

Yes, if the terms of your account allow transfers in. If you’re thinking about transferring an ISA to your existing Melton Building Society account, please speak to one of our branch colleagues or our savings team to find out more.

To transfer your cash ISA, you’ll need:

• your Melton Building Society ISA account number, if you already hold an account
• if you don’t currently have an ISA account with the Melton, a completed application form for the ISA product you would like to open
• a fully completed and signed ISA transfer form
• your national insurance number
• the account details of the ISA you want to transfer to us, including whether or not any notice period applies

How long does a transfer to Melton Building Society take?

Once we receive your fully completed ISA transfer request, it can take up to 15 working days for us to process and complete your transfer request.

How long does the transfer to a new provider take?

If you want to transfer your Melton Building Society ISA to a new provider, you’ll need to contact the new provider. We’ll then complete your transfer to the new provider within 5 working days of receiving the request from your new ISA provider.

If I transfer my ISA, will it use my allowance?

No, if you’re transferring your ISA from one provider to another during a tax year, it won’t affect your annual ISA allowance for the current tax year. However, you must ensure you follow the formal ISA transfer process.