The time it’ll take to withdraw your Lifetime ISA savings can vary depending on your provider, but the sooner you let them know you’re ready to buy, the better. At Tembo, we recommend giving 45 days' notice to ensure your funds are released in time. Please note that for ineligible withdrawals for a Lifetime ISA, you must give at least 45-days notice to your provider before withdrawing.

Once you’ve told your provider that you’d like to make a withdrawal, they’ll send you a Customer Declaration Form and a Conveyancer Form to pass on to your conveyancer or solicitor. Once these have been processed, you can usually expect your money to be released within 1-2 working days* for a Cash Lifetime ISA or 10 working days for a Stocks and Shares Lifetime ISA.

With the Tembo Cash ISA, once you’ve requested your money to be withdrawn from the account. You can withdraw some or all of the balance held in your Cash ISA. The minimum amount you can withdraw is £10 (or the remainder of your balance if less than £10). The withdrawn money will land in your linked UK current account.

If you initiate a withdrawal before 2pm on a working day, we will typically process that withdrawal the same day. For withdrawals initiated after 2pm or on a non-working day, these are usually processed the following working day. However, please be aware that a withdrawal can take up to 3 business days to be processed.

Please note, the Tembo Cash ISA is not a flexible ISA, so if you do make a withdrawal, the amount taken out cannot be replaced and will still count towards your annual ISA allowance.

Please also be aware that by taking money out of your Tembo Cash ISA, you will lose the ISA tax-free status on any money withdrawn or transferred to an account that is not an ISA, which means you might need to pay tax on any future interest you earn on that amount.