Can I open 2 cash isa's this tax year?
jl45
Posts: 39 Forumite
Can i open an isa with leed bs and transfer my existing isa into it and also at the same time open a ns and i isa and make payments into from this years isa allowance?
I wont be making any payments in the leeds isa other than the initial transfer so I think I should be ok.
I wont be making any payments in the leeds isa other than the initial transfer so I think I should be ok.
0
Comments
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Yes. The restriction is only subscribing new money.
Why would you do what you propose, however? The best ISA rate of 1.21% is on Virgin Money or Leeds BS, but the Leeds ISA only exists for one year, after which it switches to a lower rate. The Virgin Money ISA is probably a better option because it is not time limited like Leeds (although the rate is of course variable), but it is also a flexible ISA. The NS&I ISA is only paying 1%. If you really want to use ISAs then why not just transfer in to Virgin Money and then use that for new money too?0
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