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Can I transfer a cash ISA to a stocks and shares ISA?

The article from Aviva discusses the process and considerations for transferring a Cash ISA to a Stocks and Shares ISA. It explains that while you cannot directly convert one type of ISA into another, you can transfer the funds from a Cash ISA to a Stocks and Shares ISA. This transfer can be beneficial if you're looking for potentially higher returns over the long term, despite the increased risk compared to cash savings. The article outlines the steps for initiating a transfer, emphasizing that it should be done through an ISA transfer form to avoid losing the tax benefits associated with ISAs. It also mentions that there are no limits on how many times you can transfer your ISA in a tax year, but each transfer must be completed within 15 days. Additionally, it provides insights on the potential benefits of such a transfer, like diversification of investments, and warns about the risks involved, including market volatility and the possibility of capital loss. The piece concludes by advising readers to consider their financial goals, risk tolerance, and possibly consult with a financial advisor before making the switch.

Read the Full Aviva Article at [ https://www.aviva.co.uk/investments/stocks-and-shares-isa/knowledge-centre/can-i-transfer-cash-isa-to-stocks-and-shares-isa/ ]

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