Transfer Monzo (OakNorth) cash ISA into Monzo S&S Investment ISA


Today, I opened a new S&S ISA in Monzo. I already have a Cash ISA pot with a bit of money left in it, and in the investment introduction flow it was called out that it is possible to transfer an existing ISA into an investment pot - so my plan was to start the new S&S ISA with the remaining balance from my cash ISA.

However, at no point in the onboarding flow for the S&S ISA did it pick up that I already have an ISA managed by Monzo that could be transferred in / converted.

Now the S&S ISA is open, and I can see there is an option in the Savings and Investments home screen to transfer an existing ISA in - however, it looks like this is set up for external providers (i.e. you need to manually enter all of the details of the ISA you want to pull in) rather than moving ISAs around within Monzo itself.

Am I missing something here? Is this just not something that is supported, or am I overthinking it and the expectation is that I should just close the old Cash ISA pot, and manually move the cash into the new S&S one? (I have read conflicting opinions on whether this is a good idea, and how it may impact the taxation status of the funds within.)

Help/thoughts/opinions appreciated.



If you close the cash ISA you will lose the tax advantages that you’d retain if you transferred it. However, if you’re not going to be putting anything close to the £20000 into the new shares ISA, it likely won’t matter.