I attempted to move a lump sum from another provider's cash ISA to a cash ISA here, drawn in by their previously attractive interest rate, which has now vanished. I was informed that I first needed to transfer to a stocks and shares ISA before moving to a cash ISA. However, since I've already maxed out my cash ISA contributions this year, I'm now stuck with a stocks and shares ISA that I don’t want. Is there a legal financial reason preventing this transfer, or is it simply the company's reluctance? This feels rather deceptive. According to their guidelines, transferring from a Stocks and Shares ISA to a Cash ISA should be straightforward, yet I find no mention of limitations due to annual contributions.
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