Can I open 2 cash isa's this tax year?

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.

Comments

  • ValiantSon
    ValiantSon Posts: 2,586 Forumite
    edited 25 February 2018 at 2:37PM
    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?
This discussion has been closed.
Meet your Ambassadors

Categories

  • All Categories
  • 342.2K Banking & Borrowing
  • 249.8K Reduce Debt & Boost Income
  • 449.3K Spending & Discounts
  • 234.4K Work, Benefits & Business
  • 606.7K Mortgages, Homes & Bills
  • 172.7K Life & Family
  • 247.2K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.8K Discuss & Feedback
  • 15.1K Coronavirus Support Boards