There doesn’t seem to be a thread on this in the feedback & ideas section, so I’ve created one!
Vote if you think Monzo should add the ability to transfer your ISA from another provider to ISAs available within the Monzo app.
I wonder if that’s a Monzo thing or an ISA provider thing? Or maybe both?
From a customer perspective, it doesn’t really matter I guess.
The external provider who would be the source of the transfer has to allow transfer out. I believe this is a requirement of offering an ISA.
On the destination side it’s a choice rather than a requirement whether to offer transfer in. Presumably there would need to be some coordination/cooperation between Monzo and the 3rd party providers available in the Monzo marketplace, which I guess is what you’re referring to. I assume the onus would be on Monzo to lead this so the user experience is unified across providers.
Hi,
There are some older topics about transferring cash ISA’s to Monzo, implying it might be a feature planned for the future?
Are there any plans to allow this?
I’d love to transfer the cash ISA I have to Monzo so that I can see it within the Monzo app, but I don’t want to split between different cash ISA’s and I don’t want to use up my yearly allowance transferring out of one ISA and adding to a new Monzo one?
I’d love to transfer my money to you but you haven’t made it possible yet!
Thanks
2 Likes
Same here @eximess, I would love to transfer my ISA to Monzo but at the moment to do this I would have to transfer my ISA to my current account with Nationwide then transfer that into my Monzo account then into there ISA, sounds like an awkward way of doing it. Please make it more simple Monzo by doing this in the future.
If you followed that procedure, your ISA would lose its ISA status, unfortunately, and you’d be starting again with the Monzo ISA. Better to just create a Monzo ISA and start putting anything new into that, until (or if ever) Monzo make transfers in available.
2 Likes
Thank you @mikez, as I won’t be transferring it until the next 20k allowance resets in April also something to think about if Monzo does decide to do this in the future.