Isa transfer - Penalty?


My Financial Advisor is asking if there is any penalty for transferring out my isa to another provider? I can’t seem to find this information?

Does anyone know if there is a penalty to transfer to another provider?


Your Monzo cash ISA?

I doubt it. I’ve never seen a cash ISA with a transfer out fee. I’ve only ever seen transfer out fees on investment ISAs (e.g. S&S ISAs). But if concerned you should ask Monzo about it rather than this forum.

Have you checked the pot on the app, if you select that then scroll to the bottom all the docs related to the account are there to be read, I’ve not got a ISA pot but my standard ones all have the option to view the docs for that account

You can loose interest on the fixed term cash ISA, i.e. the ones that lock your cash for 1 year, 2 years, etc.