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How to transfer out of a Zopa ISA

Transferring your ISA from Zopa to another provider is easy and you can do it at any time.


Request a transfer

Contact your new provider and let them know you want to transfer your Zopa ISA to them. From there, they will get in touch on your behalf and the transfer process will begin.

With Zopa, you can choose to transfer current and/or previous year ISA contributions: but different rules apply to each set of funds.

  • For previous year(s) contributions, you can choose a full or a partial transfer of a specific amount.
  • For current year contributions, HMRC requires us to transfer your Zopa current year ISA in its entirety to your new provider.


Upon receiving your transfer request and assuming everything is correct, we will start attempting to sell your loans to other lenders. While we're doing this, your ISA account will go into a read-only mode. You'll still be able to see your Lending Summary and Statements, but that's it. Your non-ISA Zopa accounts will function as normal.


Selling your loans

We’ll start by taking your cash assets out of your ISA in preparation for the transfer. Then, we’ll begin selling your loans to other lenders. Loans will be sold starting with the most recently acquired, regardless of which product they are in. If you want to transfer out from a specific product, you’ll need to sell the loans before you request a transfer.

Finding buyers and making the sales can take between 10-20 days, depending on the availability of buyers, but we try and keep that number down. Depending on the product you invested in you might be charged a fee to sell your loans.

You can ask us to stop the loan sale at any time to get to the next stages of the transfer process faster.


Unsold loans

We can't guarantee to find buyers for all your loans, however hard we try. If at the end of 20 days, and after several attempts to sell, we can't hand them off, we'll transfer these loans into a non-ISA Zopa account. It's important to remember that once out of the ISA wrapper any income you earn on these will be taxable.

If you already have a standard Zopa lending account, we'll send unsold loans there. If not, we will automatically open one for you.


The transfer

After the above steps, any cash and proceeds from the sale of your loans will be transferred to your new provider. If you don't have any more ISA funds with Zopa your account will be closed. If you've only transferred some of your ISA funds, your account will be released from read-only mode and you can carry on as normal.

We'll be in touch at regular intervals to keep you informed of how the transfer is progressing.

We're here to help

Since 2005, more than 76,000 investors and institutions have lent over £3.92bn with us.

Monday to Thursday (8am to 8pm), and Friday (8am to 5pm).


Telephone: 020 7291 8331

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