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You can now transfer your existing ISAs into Funding Circle


You can now transfer your existing ISAs into Funding Circle

Updated: 12 August 2020

Since last November more than £90 million has been lent directly to businesses through the Funding Circle ISA, and we’re pleased to see so many of you taking advantage of the opportunity to earn attractive, stable returns tax-free. From today, you are now also able to transfer any existing ISAs you hold over to your Funding Circle account, subject to any restrictions set by your current provider.

This means that any funds you hold in a Cash, Stocks & Shares, or Innovative Finance ISA can be transferred into your Funding Circle ISA, allowing you to earn a projected return of 7.2%* per year after fees and bad debt. Existing ISA transfers will not affect your £20,000 ISA allowance, unless you are transferring funds you have used to subscribe to an ISA this tax year.

How do I transfer my existing ISAs?

Please don’t directly withdraw funds from any existing ISAs you hold, as you may lose the tax-benefits associated with them.

We’ve made the process for transferring your existing ISAs as smooth as possible. All you need to do is fill-out an ISA transfer form online, then print, sign and return it to us. Simply follow these steps and we’ll do the rest for you:

1. Navigate to the Transfers page in your account

Sign in to your Funding Circle ISA account and navigate to the Transfers page. Select the ‘Transfer existing ISA’ option.

If you do not have an ISA account you will need to open one before being able to access this option.

2. Select the type of ISA you would like to transfer

You can choose from Cash, Stocks & Shares or Innovative Finance ISA depending on the type of ISA you wish to transfer. Remember you can submit a separate transfer request for each ISA you hold.

3. Answer a few quick questions

We’ll use the answers you provide us to fill out your transfer form. Please take care to ensure every answer is entered accurately. If anything isn’t clear, our friendly team are on hand to help.


4. Print, sign and date your transfer form

Please post it to the following address:


That’s it – no need for a street address or postcode. Please remember to write in capitals where indicated. As a Freepost address, you don’t need to attach a stamp or pay for postage.

5. We’ll do the rest

We’ll get in touch with your ISA provider and arrange for your funds to be transferred over to your Funding Circle ISA account.

How long does the ISA transfer process take?

Once we’ve received your form, we’ll get to work straight away. It can take approximately 20-40 working days depending on the type of ISA you want to transfer:

  • Once we receive your transfer form we will send this to your previous ISA provider
  • Your old provider will then process the request and transfer your funds to us. Cash ISAs can take up to 15 working days to process, with Stocks and Shares and Innovative Finance ISAs taking up to 30 working days.
  • Once we have received your funds we will transfer them to your Funding Circle ISA. This can take another five working days.



Why can’t I sign and return the form online?

Many ISA providers require the transfer form to be signed with a ‘wet ink signature’ before they proceed with any transfer.

Do ISA transfers count towards my subscription limit?

Transfers of existing ISA accounts do not count towards your subscription limit for this current tax year. However, if any of the funds you are transferring were paid into an ISA this tax year then these funds will count towards your subscription limit.

Are there any limits to how much I can transfer?

You can choose to transfer all or part of any funds you have paid into an ISA in previous tax years. However, if you are transferring funds you have paid into an ISA during this tax year, you must transfer it in its entirety. You can transfer as many existing ISAs as you wish.

Can I cancel an ISA transfer?

Please get in touch with both us and your ISA provider as soon as possible if you would like to cancel your transfer. If your existing ISA provider hasn’t started processing the request, then we may be able to cancel it and your funds will stay where they are.

You can find more information on the Funding Circle ISA in our FAQs, or please feel free to get in touch.

Remember, by lending to businesses your capital is at risk.

Enjoy lending,

The Funding Circle team

*The projected return is an estimate of the annual return, after fees and bad debts, that a diversified investor could earn by lending through the Balanced lending option as of 2nd May, 2018. You can see how the return is calculated here. Actual returns may be higher or lower and by lending to businesses your capital is at risk.

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