There are two types of transfers. Transfers in and transfers out.
Transferring-in is the term when moving your previous year’s subscriptions to a new provider. On receipt of a transfer instruction from you we will forward it to the old ISA manager (together with a confirmation that we will accept the transfer) within 5 business days of the date of receipt. On receipt of the cash and accompanying information from the old ISA manager, we will credit the cash to the ISA account within 3 business days of the date of receipt.
Transferring-out of a Cash ISA is when you wish to move money from one ISA to another, often done when opening a new ISA account. On receipt of a transfer instruction from another ISA manager we will send the cash and accompanying information to the new ISA manager within 5 business days of receipt of instructions. Instructions should clearly indicate whether or not you want to serve any relevant notice/penalty period.