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New ISA account. Made a mistake. Please help...
rj73uk2003
Posts: 7 Forumite
Hi
I opened my first ISA in Oct this year and deposited £3000. Assuming this to be like a normal savings account, I withdrew 2000 thinking I'll deposit the money back as an when I have it. Now the bank won't let me deposit the money into it.
Is it possible to close this account and open with somebody else and deposit the full £3000 in this tax year?
Thanks
I opened my first ISA in Oct this year and deposited £3000. Assuming this to be like a normal savings account, I withdrew 2000 thinking I'll deposit the money back as an when I have it. Now the bank won't let me deposit the money into it.
Is it possible to close this account and open with somebody else and deposit the full £3000 in this tax year?
Thanks
0
Comments
-
No.
The £3000 is the maximum you can credit in any tax year. If you make any withdrawls then you have to wait until next April to top it up. You are only allowed one Mini Cash Isa per tax year so the answer is no you cannot close it and set up another one with someone else.0
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