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Can I open a second ISA for new money?
lestar
Posts: 1 Newbie
I have transferred an old poor-performing ISA into a new Icesave ISA account. I have not saved any other new cash into an ISA this tax year.
My question is, can I now open an HSBC ISA for my new savings? I notice you can only have one ISA with one provider per year, but does this apply if one of them is only for transferred money from previous years?
Need to find this out as I already applied for the HSBC and will need to cancel if I discover it's not legal!
My question is, can I now open an HSBC ISA for my new savings? I notice you can only have one ISA with one provider per year, but does this apply if one of them is only for transferred money from previous years?
Need to find this out as I already applied for the HSBC and will need to cancel if I discover it's not legal!
0
Comments
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Carry on with your new application. A transfer is NOT a new ISA, so you are still entitled to open a new one in this tax year."The trouble with quotations on the Internet is that you never know whether they are genuine" - Charles Dickens0
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I notice you can only have one ISA with one provider per year, but does this apply if one of them is only for transferred money from previous years?
You can only have one open ISA per year.
An open ISA is one that contains money contributed in the current tax year.
Previous years' aren't open. (The definition also allows you to 'open' an account with another provider so that you can transfer current year's contributions.)Conjugating the verb 'to be":
-o I am humble -o You are attention seeking -o She is Nadine Dorries0
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