Cash ISA and H2B - help

Mdbrfc11 · 19 March 2017 at 10:15PM

Hello all I'd appreciate some help please.

I've just opened a Coventry flexible isa (match 2017) that id like to put around 400 in each month going forward.

Then in April/may 2017 I'd like to open a help to buy isa with nationwide. (Deposit then 200 a month)

Can I pay into both each month?? I know the rules around opening one per year but am unclear around how many I can pay into.

Obviously I won't exceed the total amount allowed.

Please help!!
Thanks in advance

isasmurf · 19 March 2017 at 10:24PM

No you can't. All deposits in the current tax year must be held with a single Cash ISA provider. Nationwide do allow you to split your cash ISA allowance between different cash ISAs held with them, so if both the cash ISA and HTB ISA was with Nationwide you would be able to subscribe to both. Not all cash ISA providers allow this.

Mdbrfc11 · 20 March 2017 at 10:07PM

isasmurf wrote: »

No you can't. All deposits in the current tax year must be held with a single Cash ISA provider. Nationwide do allow you to split your cash ISA allowance between different cash ISAs held with them, so if both the cash ISA and HTB ISA was with Nationwide you would be able to subscribe to both. Not all cash ISA providers allow this.

OK thank you for that. I have an old nationwide cash ISA that needs renewing before use so all being well I shall open the H2B ISA with nationwide in April and just renew the cash ISA with them at the same time and split the allowance between the two..

badger09 · 21 March 2017 at 12:30PM

OP

Are you sure a cash ISA (excluding HTB which is a good idea) is the best place for your savings?

Have you considered the various current accounts and regular savers paying up to 5%?

As you mentioned Nationwide, are you already using their Flexdirect current account & regular saver, both of which pay 5%?

Cash ISA and H2B - help

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