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    • Harold.Finch
    • By Harold.Finch 5th Sep 17, 11:20 AM
    • 61Posts
    • 17Thanks
    Opening two cash ISA's in the same year
    • #1
    • 5th Sep 17, 11:20 AM
    Opening two cash ISA's in the same year 5th Sep 17 at 11:20 AM
    Bit of a schoolboy question but would like to get it clear in my mind.

    A few weeks ago I opened a cash ISA and funded it with cash and transferred an ISA from a previous year into it. Am I now allowed to open another cash ISA provided I fund it only with a transfer from a previous years ISA? I won't be putting any new cash into it.
Page 1
    • eskbanker
    • By eskbanker 5th Sep 17, 11:43 AM
    • 5,818 Posts
    • 5,711 Thanks
    • #2
    • 5th Sep 17, 11:43 AM
    • #2
    • 5th Sep 17, 11:43 AM
    Yes, you can open another cash ISA purely for transfers, the rule is that you can only pay new money into one ISA of each type in any given tax year.

    Are you sure that multiple cash ISAs are the best home for your money, given the poor returns?
    • Money Help
    • By Money Help 6th Sep 17, 7:23 AM
    • 34 Posts
    • 15 Thanks
    Money Help
    • #3
    • 6th Sep 17, 7:23 AM
    • #3
    • 6th Sep 17, 7:23 AM
    Just to confirm although you can only pay into one cash ISA per tax year you can pay into one cash ISA, one stocks and shares ISA and one LISA all in the same tax year providing the total combined amount is no more than £20k.
    • Harold.Finch
    • By Harold.Finch 8th Sep 17, 10:58 AM
    • 61 Posts
    • 17 Thanks
    • #4
    • 8th Sep 17, 10:58 AM
    • #4
    • 8th Sep 17, 10:58 AM
    Thanks for the replies and sorry for the delay in responding due to family stuff.

    @eskbanker - We have got other investments but just wanted to keep the ISA's running for a little longer. We have our other savings providing a better rate of income.
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