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    • pal77
    • By pal77 16th May 17, 1:42 PM
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    pal77
    Open 2 ISAs, pay into one, transfer into the other?
    • #1
    • 16th May 17, 1:42 PM
    Open 2 ISAs, pay into one, transfer into the other? 16th May 17 at 1:42 PM
    Like everyone, I'm trying to get my head around the ISA rules and not seeing an easy guide anywhere that answers my questions.

    This year, I've opened a Nutmeg LISA (just in time before my 40th) and a Moneyfarm stocks & shares ISA. I've paid into the LISA and transferred last year's Santander cash ISA into the Moneyfarm one.

    Can I now open another stocks & shares ISA this year (Fundsmith or Nutmeg, probably) and pay into that with the rest of my allowance? I've not actually paid into the Moneyfarm one, just transferred.

    Any help much appreciated!
Page 1
    • eskbanker
    • By eskbanker 16th May 17, 1:59 PM
    • 5,905 Posts
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    eskbanker
    • #2
    • 16th May 17, 1:59 PM
    • #2
    • 16th May 17, 1:59 PM
    Yes, you can open another S&S ISA and pay new money into it - the basic rule is that you can only pay new (current tax year) money into one ISA of each type, so, as you haven't paid any 2017/18 contributions into a S&S ISA, then you're free to open another one and do so.
    • ThriftyFelicity
    • By ThriftyFelicity 17th May 17, 12:55 PM
    • 765 Posts
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    ThriftyFelicity
    • #3
    • 17th May 17, 12:55 PM
    • #3
    • 17th May 17, 12:55 PM
    On a related note, I've opened a Halifax flexible cash ISA this year in order to transfer funds from a maturing Santander cash ISA. I've not put any "new" money into the Halifax ISA. Does that mean I am free to open another cash ISA this year, for this year's ISA contributions? Thanks
    R.I.P. Bart. The best cat there ever was.
    • badger09
    • By badger09 17th May 17, 1:10 PM
    • 5,588 Posts
    • 4,897 Thanks
    badger09
    • #4
    • 17th May 17, 1:10 PM
    • #4
    • 17th May 17, 1:10 PM
    On a related note, I've opened a Halifax flexible cash ISA this year in order to transfer funds from a maturing Santander cash ISA. I've not put any "new" money into the Halifax ISA. Does that mean I am free to open another cash ISA this year, for this year's ISA contributions? Thanks
    Originally posted by ThriftyFelicity
    Yes you can do that. Just make sure you use Halifax's transfer process to move your maturing Santander ISA.

    However, are you sure a cash ISA is the best place for your savings?
    • ThriftyFelicity
    • By ThriftyFelicity 17th May 17, 1:50 PM
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    ThriftyFelicity
    • #5
    • 17th May 17, 1:50 PM
    • #5
    • 17th May 17, 1:50 PM
    Yes you can do that. Just make sure you use Halifax's transfer process to move your maturing Santander ISA.

    However, are you sure a cash ISA is the best place for your savings?
    Originally posted by badger09
    Yes, I've used the Halifax transfer process to move the funds, they did it very quickly. The reason I chose a flexible ISA is so that I can withdraw to higher-rate savings accounts, but I'll make sure I have the funds transferred back before the new tax year next year.

    I was unsure whether I'd be making any 2017/2018 ISA contributions, but Ford's new regular saver ISA at 4% is looking like a good place for a couple thousand of new money at least.
    Last edited by ThriftyFelicity; 17-05-2017 at 1:53 PM.
    R.I.P. Bart. The best cat there ever was.
    • eskbanker
    • By eskbanker 17th May 17, 2:11 PM
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    eskbanker
    • #6
    • 17th May 17, 2:11 PM
    • #6
    • 17th May 17, 2:11 PM
    Ford's new regular saver ISA at 4%
    Originally posted by ThriftyFelicity
    Not familiar with this and it isn't shown at https://www.fordmoney.co.uk/savings-products/overview, do you have a link please? It sounds a suspiciously large differential from the rest of the market!

    Edit: I see it's mentioned in today's article at http://www.thisismoney.co.uk/money/saving/article-4510644/Ford-Money-launches-best-buy-4-cent-regular-saver.html, presumably Ford will update their site at launch....
    Last edited by eskbanker; 17-05-2017 at 2:13 PM. Reason: Found the answer!
    • badger09
    • By badger09 17th May 17, 2:36 PM
    • 5,588 Posts
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    badger09
    • #7
    • 17th May 17, 2:36 PM
    • #7
    • 17th May 17, 2:36 PM
    Not familiar with this and it isn't shown at https://www.fordmoney.co.uk/savings-products/overview, do you have a link please? It sounds a suspiciously large differential from the rest of the market!

    Edit: I see it's mentioned in today's article at http://www.thisismoney.co.uk/money/saving/article-4510644/Ford-Money-launches-best-buy-4-cent-regular-saver.html, presumably Ford will update their site at launch....
    Originally posted by eskbanker
    Also mentioned here

    http://forums.moneysavingexpert.com/showthread.php?t=608697&page=273

    Not like you to miss something like that eskbanker
    • eskbanker
    • By eskbanker 17th May 17, 4:23 PM
    • 5,905 Posts
    • 5,870 Thanks
    eskbanker
    • #8
    • 17th May 17, 4:23 PM
    • #8
    • 17th May 17, 4:23 PM
    Also mentioned here

    http://forums.moneysavingexpert.com/showthread.php?t=608697&page=273

    Not like you to miss something like that eskbanker
    Originally posted by badger09
    To be fair it was only posted there less than two hours before my post, and nobody (other than your good self!) has referred to it from the ISA board - someone's going to need to tell Kazza242 of a rare new regular saver ISA....
    • badger09
    • By badger09 17th May 17, 5:40 PM
    • 5,588 Posts
    • 4,897 Thanks
    badger09
    • #9
    • 17th May 17, 5:40 PM
    • #9
    • 17th May 17, 5:40 PM
    To be fair it was only posted there less than two hours before my post, and nobody (other than your good self!) has referred to it from the ISA board - someone's going to need to tell Kazza242 of a rare new regular saver ISA....
    Originally posted by eskbanker
    My name is badger09 and I am an MSEaholic
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