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ISA Transfers

How to transfer

  • You should complete the ISA transfer application and send it to us.
  • We will forward your request in writing to your existing ISA manager.
  • Your existing ISA manager will send a “transfer form” to us, accompanied or followed by the transfer payment. If the payment cannot be sent at the same time, your existing ISA manager will advise us when it will be sent.
  • When we receive the money from the existing ISA manager we will send you a certificate showing your benefits.
  • You should complete the ISA transfer application and send it to us.
  • We will forward your request in writing to your existing ISA manager.
  • Your existing ISA manager will send a “transfer form” to us, accompanied or followed by the transfer payment. If the payment cannot be sent at the same time, your existing ISA manager will advise us when it will be sent.
  • When we receive the money from the existing ISA manager we will send you a certificate showing your benefit

    How to transfer

  • You should complete the appropriate ISA transfer application and send it to us.
  • We will forward your request in writing to your existing ISA manager.
  • Your existing ISA manager will send a “transfer form” to us, accompanied or followed by the transfer payment. If the payment cannot be sent at the same time, your existing ISA manager will advise us when it will be sent.
  • When we receive the money from the existing ISA manager we will send you a certificate showing your benefits.

To apply, download an application form by clicking the button below that relates to the sum you wish to transfer. 

Transfer FORM (£300-£1,999)

Transfer FORM (£2,000 and over)

 

Why Metfriendly?

It’s easy to transfer to Metfriendly – so be sure to find out just what your ISAs are earning and ask yourself if you’re getting the most out of your hard-earned savings.

When it comes near to the new tax year newspapers are full of ads from banks promising very enticing rates of return on their ISAs. But hidden in the small print you may find that this rate applies to the first year only. After that the rate may plummet to something less than attractive. And remember you may have your ISA or ISAs sitting there for years.

Metfriendly’s Lump Sum ISA is a Stocks and Shares ISA and as such does not offer an annual ‘rate’ but instead adds annual bonuses and an extra final bonus when you cash it in (after three years or more).

The bonus rates depend on a number of factors, but in general they reflect Metfriendly’s long-term investment returns. You can see the past performance of our ISAs here.

While it is impossible to predict the future you can see illustrations of how our Lump Sum ISA works here.

For sums less than £2,000 you can transfer into our Monthly Savings ISA (you must already be paying into a Monthly Savings ISA with us before you can transfer).

Limits

If you make regular monthly contributions into your ISA with us you can transfer sums of less than £2,000 (but not less than £300) into our Monthly Savings ISA. Sums of £2,000 or more can be transferred into our Lump Sum ISA.

Why transfer?

You can easily transfer your ISA(s) from your current provider to Metfriendly should you in any way feel dissatisfied with your returns or other aspects of your plan(s).

It may pay to check your current ISA rates and contracts as many high street providers offer great rates of return in the first year to attract customers only to drop them right down after this. As a fair and transparent financial services provider, Metfriendly does not engage in this practice. All our current ISA rates and past performance are clearly stated, while subsequent bonus rates depend primarily on the performance of our investments.

It’s easy

In many cases people don’t bother to transfer their ISAs as it seems too much effort.
In fact the transfer process is very easy and quite straightforward, and may end up being a very good financial move.

And right now it makes even more sense to consider transferring your ISA to Metfriendly. Transfer £2,000 or more from your Cash or Stocks & Shares ISA into a Metfriendly Lump Sum ISA and you’ll receive an extra 1.25% on your investment.

Can I transfer my existing ISA to the Metfriendly one?

Yes, please read the following guidance carefully and if you wish to proceed with a transfer to us, just complete the Transfer Application Form and return it to us.

What types of ISAs can I transfer to Metfriendly?

You can transfer any type of ISA to Metfriendly.

How much can I transfer?
  1. All or part or none of your contributions in previous tax years; and
  2. All or none (but not just part) of your contributions so far in the current tax year.
What happens if the money was saved in previous tax years?

You can transfer some or all of your ISA money saved in previous tax years to our ISA without affecting your current year’s annual ISA investment allowance.

For example – let’s say you have a total of £9,000 saved in Cash ISAs from previous tax years, and you plan to invest your full year’s ISA allowance of £20,000 into our Investment ISA. In the same tax year, you are allowed to transfer some or all of the £9,000 to our ISA, without breaching the maximum limits.

Can I add to the transferred ISA?

Yes, but if your transfer includes any contributions from the current tax year, you must deduct that amount from the maximum you are allowed to contribute. Within that maximum, if you wish to make more contributions immediately, or start making regular payments, apply online (Lump Sum ISA) or complete the normal application (Lump Sum ISA or Monthly Savings ISA as appropriate) and send it to us at the same time as the transfer form.

Can I transfer my ISA to you if I already have your ISA?
I paid into an ISA years ago. Am I allowed to pay into yours?

Yes. Each tax year, you can choose a different provider – for a Cash ISA and for an Investment ISA.

I am not sure about Stocks and Shares. How safe is your ISA - say, compared to your other savings plans?

Our ISA is invested in the same way as our other with-profits products. The fund is invested in a mix of equities, commercial property, bonds and cash.

I have already paid into a Stocks and Shares ISA. Can I take out one with you next April?

Yes. Most providers will automatically continue taking regular payments, so if you want to switch provider next tax year, you should contact your existing provider and cancel any standing instructions before April 6th. If you pay lump sums, your previous provider may assume you are still eligible to invest with them – if you start a new lump sum ISA with us, you must not forget about it and subscribe to your previous provider later in the tax year.

I want to make regular savings into your ISA. Do I have to commit to a set amount?

No. Unlike our other savings plans, which include an element of life assurance, our ISA is flexible. What you pay each year, whether by lump sum or monthly savings (or both), is only limited by the general ISA rules. You can vary or suspend monthly payments with complete freedom and no penalty.

Can my partner take out an ISA with you?

Yes. They have their own ISA allowance, even if they are not working. If you have used all your ISA allowance, then it makes sense to use their allowance too. But any money they subscribe must be their own.

Can my child take out an ISA with you?

Children over 18 can take out plans with the Society (see Eligibility for more information). We also offer Junior ISAs (both Lump Sum and Monthly Savings) whereby an adult can save or invest on behalf of a child. We also have a regular savings plan for young children, called the Children’s Saving Plan.

‘Hassle-free savings that are started every year on my behalf, without me having to call up.’

 

D.C. R McLaren, Hackney Borough Stations

Great opportunity for family members to be offered the same offers as members.

Miss A McLeary, ESB

‘I’ve used Metfriendly for the last 5 years and recently the money has gone towards a deposit for our house which we are moving into next month. I will be signing back up next month to help save towards my kids future.’

 

Amanda Cooper (Met CC, Bow)

‘I’ve used Metfriendly for the last 5 years and recently the money has gone towards a deposit for our house. I will be signing back up next year to help save towards my kids future.’

Mrs A Cooper, Met CC, Bow

Very happy with the service. I have a number of policies for myself and my children.

Police Sergeant S Drysdale, DPS Borough Support

Good service – always very helpful and informative.

Miss J Coward, South Norwood, London

‘Very pleased with the service I’ve received to help me save money direct from my salary.’

DC Chris W, SO15

‘I would recommend Metfriendly to everyone.’

Mrs V Thompson, Dagenham

‘I have always been pleased with the returns from my Metfriendly policies.’

Mr P Payne, Bordon