How long does it take to transfer my Zopa IFISA to a new provider?
Updated 3 months ago
While HMRC has specified timescales for transferring cash ISAs and stocks and shares ISAs, they haven't issued timescales for IFISAs yet. This is because there is a bit more to do to move them while you’re invested in loans.
The speed depends on how quickly we can find buyers for your loans in our secondary market. Much like when you invest new money into Zopa, selling loans has two distinct stages: queuing and attempting sale.
First your request is added to the queue. Then, when it gets to the front, we make multiple attempts to find the right buyer/s for your loan/s.
We can’t always guarantee you’ll be able to sell your loans, as sales are dependent on demand from other investors.
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