Registered Mongoose Crowd members can login to their account and request an ISA transfer, via their Profile button on the top menu. Requesting an ISA transfer is an online only process.
It is a 3 step process and members will need the following information: National Insurance (NI) number and account number of the existing ISA as well as the name of their current ISA provider. Useful, but not required, information would be a reference number, ISA manager name and contact number.
NB: It is up to the registered member to find out from their existing ISA provider if there will be any penalty charges applied to closing or transferring their current ISA.
Important information to note:
FCA guidelines state cash ISA transfers should be complete within 15 working days while stock and shares ISA within 30 working days.
Members cannot invest in a Mongoose Crowd IF ISA bond until the funds clear into their Mongoose Crowd ISA. Transferring an ISA carries the risk that the bond offer might be complete or closed when the funds become available to invest.
Funds not invested into an IF ISA bond will remain in the Mongoose Crowd ISA, earning no interest. Members can choose to invest into another Mongoose Crowd offer, either through a current offer or future offer. Members can also request to transfer their ISA funds to another ISA provider.
Step 1: Create Mongoose Crowd IF ISA
Read, understand and agree to the IF ISA terms and conditions. Enter your NI number then save and continue.
Step2: Current ISA provider details
Select ISA provider from the drop down menu, input account and sort code (and additional information if known). Confirm value to be transferred – this can either be a specific amount or the full value (member needs to tick the box as well as enter an estimate value figure if requesting full value transfer).
Step 3: Authorise transfer
Give consent to either process the request after full notice period is served, or to proceed immediately and apply any penalty charges that may apply (Member to find out if any penalty charges apply to them). Electronically sign the transfer record by typing in your full name. Submit the transfer request.