How to Transfer an Existing ISA into Your Loanpad IFISA in 3 Steps

If you’re looking to transfer ISA to Loanpad, here’s what you need to know before you start. All UK taxpayers can invest up to £20,000 per year across a variety of ISA accounts. For the current 2026/27 tax year, up to £20,000 can be invested in a Cash ISA, a Stocks and Shares ISA, or an Innovative Finance ISA (IFISA), while up to £4,000 can be invested in a Lifetime ISA.

You do not need to stick with the same ISA accounts forever. If your investment strategy changes, or you simply aren’t happy with an existing ISA account, it is possible to transfer your existing ISA balance into another account without any impact on your annual allowance. ISA transfers can be done at any time, and are very straightforward for the average account holder.

What kind of ISA does Loanpad offer?

Loanpad offers two IFISA-eligible accounts – our Classic Account and our Premium Account. Both accounts come with a minimum investment of just 1p, while the Classic Account has a maximum of £20,000 and the Premium Account is capped at £250,000. Withdrawals can be made daily from the Classic Account, but 60 days’ notice is required to make a withdrawal from the Premium Account. As of September 2026, the Classic Account was targeting 5% in returns, while the Premium Account was targeting 5.8%.

All of your £20,000 annual ISA allowance can be invested into one or both of Loanpad’s accounts. Alternatively, you can split your annual £20,000 allowance across a variety of IFISA, Cash ISA and Stocks and Shares ISA accounts, depending on your risk profile and investment strategy.

How do you transfer your ISA to Loanpad?

Transferring your ISA to Loanpad is easy. Just remember one important rule – all ISA transfers must be carried out directly between two ISA managers in order to preserve the ISA’s tax-free status. If you withdraw money from your existing ISA account and then pay it into a Loanpad account yourself, it will be treated as new ISA money rather than existing balance, and may effectively reduce your ISA allowance for that financial year.

Transferring an ISA to Loanpad can be done in just three easy steps:

Step 1 – To transfer an ISA to Loanpad, first you must open a Loanpad ISA account. Loanpad’s IFISA is available to people aged 18 or over who are UK residents, subject to its eligibility requirements. You will be asked to complete an appropriateness test before any money is deposited or transferred, to ensure that you are fully aware of the risks involved.

Step 2 – Next, you must complete the Transfer Authority Form in the ‘Cashier’ section of your ISA dashboard. A new form must be completed for every transfer you want to make. For example, if you wish to transfer £10,000 from a Cash ISA account, £20,000 from a Stocks and Shares ISA, and £10,000 from another IFISA, you will need to complete three different forms.

Once this form has been sent to Loanpad, we will contact your existing ISA provider and arrange the transfer directly.

At Loanpad, we aim to complete ISA transfers within 30 calendar days, although the actual timeframe can vary depending on the type of ISA being transferred and any restrictions that may apply.

Step 3 – Once the transfer has reached Loanpad, the money will appear in your ISA cash account. You can then move it into an ISA Classic or ISA Premium Account, where it will start earning interest.