Yes! You can transfer your existing Lifetime ISA to Tembo easily through our app.
How to transfer an existing Lifetime ISA
Download the Tembo app from the App Store (iOS) or Play Store (Android).
During sign-up, select 'Transfer a Lifetime ISA to us'.
Enter your current provider's details.
Choose your new account type: You can switch to either a Cash LISA or Stocks & Shares LISA, regardless of what type your previous LISA was.
What happens next? We will work directly with your current provider to move your funds safely. We will email you once the money has landed.
⏱️ Timeline & Restrictions
How long does it take?
Transfers typically take 30 calendar days. Our team starts working with your provider immediately after you request the transfer.
⚠️ Important: No contributions during transfer
While the transfer is processing, you cannot make contributions (instant payments or Direct Debits) to the account.
Tax Year Warning: If the tax year is ending soon and you still have contributions to make, please be aware of this freeze period.
Moving money from other ISAs (Cash, Help to Buy, etc.)
If you want to move funds from a different type of ISA (like a Cash ISA, Stocks & Shares ISA, or Help to Buy ISA) into your Tembo Lifetime ISA, the process is different.
The recommended method is:
Withdraw the funds from your existing ISA (check with your current provider for any withdrawal penalties).
Deposit the funds into your Tembo Lifetime ISA via bank transfer or Direct Debit.
🚨 Important Limit: You can only deposit up to £4,000 per tax year into a Lifetime ISA. If you are moving money from another ISA manually, this counts towards that limit. If you have more than £4,000 to move, you will need to split it across multiple tax years.