Transfer to a OneFamily Stocks and Shares ISA 

No. As long as you transfer money from your current ISA product to us, without withdrawing it, then this won’t affect your annual allowance of £20,000.

If you withdraw the money then open a new ISA, this will count towards your annual allowance.

The main differences between stocks and shares ISAs and cash ISAs are the levels of risk and how they make money.

Cash ISAs earn interest, like some current accounts do. They can’t go down in value but how much they grow depends on interest rates.

Stocks and shares ISAs, like OneFamily’s Stocks and Shares ISA, invest in funds that buy investments, for example shares in companies. The value of the money in the fund changes depending on the value of those investments.

So there’s greater potential for your money to grow in a stocks and shares ISA, especially over the long-term, but there's a risk that the value could go down and you could get back less than you put in.

Stocks and shares ISAs tend to be a better option for people who plan to invest for five years or more than those who want to invest for a shorter period. This is because dips in the stock market tend to have less of an impact over time.

Learn more about the differences between saving and investing.

Once we’ve received your transfer request, we’ll complete the transfer in up to 30 days.

We’ll let you know once the transfer’s completed.

You’ll be able to create an online account when you open your OneFamily Stocks and Shares ISA.

This means you’ll always be able to see how much your investments are worth and how the fund is performing.

You can also log in to set up a Direct Debit, make one-off payments and withdraw money.