We make it easy for you to move funds from your old ISA to your new IFISA. You can do this simply by completing the online form or downloading and completing the offline form. When we’ve received the details of your old ISA and how much you wish to transfer we work with your old ISA manager to move the funds to your Crowd2Fund account as quickly as possible.
We make it really easy and take great care to seamlessly transfer your ISA to Crowd2Fund and allow you to start investing in growing businesses.
Why should I transfer my old ISA?
Calculate your IFISA earningsUse this calculator to estimate your tax free earnings.
This calculation is an estimate and actual returns may be higher or lower. It assumes that any reinvestments are re-invested immediately.
3 simple steps
Transfer an ISA FAQs
At present, the Financial Conduct Authority has only approved a handful of peer-to-peer platforms to provide IF ISAs. We are one of just a few to be fully and directly regulated by the FCA.
To date, we have 0% default rate due to our strict credit assessment and due diligence.
The IFISA is offering investors much higher estimated returns of 8.7% APR in comparison to the Old Cash ISAs which were between 0.5% to 1.5%. We also offer higher interest rates than other P2P platforms because we only work with private investors instead of large institution.
In addition to the higher returns, investors can also choose to support businesses they like, and this way of investing also helps the economy grow at the same time.
You are able to transfer your previous Cash ISA to our IFISA and continue earning tax-free returns on the invested amounts on Crowd2Fund.
NB: We can only accept Cash ISAs, or the cash that is in a Stocks and Shares ISA i.e. stocks and shares would need to be liquidated before the transfer can occur, or the investor would need to have free cash in the Stocks and Shares ISA already.
There are no fees for activating an IFISA, for cancelling or transferring out at any time.
You can open more than one IFISA but only subscribe to one IFISA per tax year.
You have subscribed to an IFISA if:
- You have added new funds since activating an IFISA.
- You added funds to an existing ISA this tax year and then transferred these ISA funds into an IFISA.
If you don’t subscribe to your IFISA within the tax year, i.e. if you don’t add new funds into your IFISA, it will automatically be cancelled at the end of the year.
If you do subscribe for an Innovative Finance ISA for the tax year 2016 and each subsequent year, the IFISA will remain open indefinitely until further notice. The tax year runs from 6 April to 5 April.
By ticking the box, we assume that you will subscribe (add new funds) to your IFISA during the year 2016 and each subsequent year until you inform us that you would like to cancel or transfer your IFISA. If you do not subscribe to your IFISA within a tax year it will be cancelled at the end of the year and you will need to re-activate it manually.
The subscription doesn't have to be large, you need to subscribe a minimum of £10 to validate and keep the IFISA open.
If you subscribe a minimum of only £10 to your IFISA this means it will stay active until you decide to cancel. If you do not subscribe within the tax year your IFISA will automatically cancel at the start of the next tax year.
There is no limit on the amount of existing ISAs you can transfer. However, you will need to complete a new form for each provider.
If you have Cash ISA savings that you have built up in previous tax years, you can transfer as much as you like, or as little as £10, to your IFISA. In tax year 2016/2017, you can subscribe up to £15,240 across your ISAs.
You can easily withdraw your funds from your IFISA whenever you like.
However, you should be aware that withdrawing funds will remove them from your ISA wrapper, but you can replace these funds within the same tax year without affecting your yearly subscription.
The form is easy to complete and asks for basic details including information about your old ISA provider and your authority for the transfer of funds.
As we are FCA regulated, we will need a copy of a valid photo ID for compliance purposes before you start investing.
Once we receive your completed ISA transfer form, we will send it to your old ISA manager to be processed. It should take around 15 days to be processed, but we will keep you updated on progress.
Your funds are not earning interest while in your wallet. In order to earn interest, you would need to make investments in debt-based campaigns that are IFISA eligible through your Crowd2Fund account.
Your IFISA won’t close when the tax year finishes. You will keep your savings on a tax-free basis for as long as you keep the money in your IFISA account. However, it will close if you do not subscribe that tax year.
You can email your ID to us or directly upload it into your account under “Wallet > Withdraw funds”.
Timings to transfer
Often transfers are made from the old ISA managers using a cheque in the post. Sometimes this means the process can take up to three weeks for the funds to appear in your wallet.
The process can be speeded up if you call your old ISA manager and ask them to expedite the process. We’ll ensure you're kept informed on where the transfer process is.
If you wish to cancel your IFISA with Crowd2Fund then you can also do this easily. Simply email email@example.com and we will make sure your funds are transferred and remain in your ISA wrapper.
We will need to receive a transfer request form from your new ISA provider before we can transfer the funds.
You can withdraw funds from your Crowd2Fund IFISA wallet at any time.
This will remove the funds from your ISA wrapper, but if you replace them within the same tax year they will become part of your ISA wrapper again and your subscription for that year will not be affected.
Access your capital
You can access your capital by selling an investment to another investor on the Exchange. You define your sale price and list your investment within the marketplace.
We take security and compliance very seriously to protect investors.
Due to FCA regulation and our anti money laundering obligations we need to confirm your identity if you're investing more than £2000. You can complete your ID checks by uploading your driving licence or passport on our enhanced compliance page, or alternatively you can email us your ID and we will process this for you.
When your ISA funds arrive
When your funds arrive, you will be notified and you can use the Smart-Invest feature to automatically deploy funds into campaigns that match your risk profile. Alternatively, you can select campaigns you choose to invest in from the opportunities page.
Remember, funds do not earn interest when they are in your Crowd2Fund wallet.
You can also set-up a Smart-Investment plan to make monthly investments automatically.