Transfer ISA to a Guaranteed Investment Bond
How to transfer an ISA into a Guaranteed Investment Bond
If you hold a Cash ISA or a Stocks & Shares ISA* and are considering moving your money into a Guaranteed Investment Bond, it’s important to understand the process and what’s involved.
Transferring your ISA should be straightforward, and we're here to help you - from discussing the ‘ISA Wrapper’ option to completing the transfer quickly.
*This could be with Unity Mutual or another provider.
How to transfer an ISA into a Guaranteed Investment Bond
Step 1
Choose between a 2-year, 3-year or 5-year bond below, and review the Terms and Conditions carefully.
Step 3
Return the completed transfer-in form to: insure@unitymutual.co.uk or by Freepost UNITY MUTUAL (please ensure "UNITY MUTUAL" is written in capital letters).
Step 4
Our customer service team will handle the rest, we’ll let you know in writing once the transfer is complete.
Important documents
FSCS Protected
Your investment is 100% protected under the Financial Services Compensation Scheme.
2nd Life
In the event of your death, why not choose to automatically transfer to your nominated 2nd Life, ensuring peace of mind.
ISA Wrapper
Wrap your bond in an ISA Wrapper when you apply (subject to ISA limits).
ISA to Bond transfer FAQs
You can invest between £5,000 - £250,000 into a bond (it is possible to hold more than one bond).
An ISA wrapper on your bond (or part of) allows you to transfer an existing Cash ISA or Stocks & Shares ISA into a Guaranteed Investment Bond while retaining the tax-efficient benefits of your ISA.
Each tax year, you can invest up to £20,000 into an ISA — including a Guaranteed Investment Bond held within an ISA wrapper. This annual allowance is set by the government and allows you to earn interest or investment returns free from income tax and capital gains tax.
Scenario
If you invest £40,000 into your new bond — you wouldn’t be able to wrap the full amount in an ISA Wrapper in one go. However, you can choose to invest £20,000 in the first tax year, and then another £20,000 in the following tax year, applying the ISA wrapper to each year's contribution. This would mean that in both tax years you would not be able to invest in any other ISA products as you would have used your full allowance.
Tax Advice:
Please note that Unity Mutual is unable to provide tax advice. Tax rules can be complex and may vary depending on your personal circumstances. If you need guidance, we recommend speaking to a qualified financial adviser or tax professional. You can find an independent adviser at Unbiased.co.uk.
Transfers should be completed within 30 days of us sending a transfer request to your current provider. However, we cannot guarantee the processing time of other organisations. Please allow up to 30 days for this process to complete.
Unity Mutual will notify you if there are any issues that may be preventing the timely processing of your funds.
There is no charge for the transfer. Please see our terms and conditions for details on any charges related to the product itself.
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Send us an email at insure@unitymutual.co.uk
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