Clarify rules of new ISAs and transfers of old

TightAndy

The rules as I have read them indicate that you can only invest £3,600 in a NEW Cash ISA in this tax year but the rules allow transfers as well.
The current best rate of 3.61% is with Barclays but they do not allow transfers and the current best rate allowing transfers is from Natwest at 3.51%. I have a number of previous Cash ISAs all now languishing at lower rates.

To maximise interest at current rates can I invest the full allowance for this year with Barclays and transfer my previous Cash ISAs to Natwest? This means I will take out NEW ISAs with more than £3,600 but only that amount will be new investment in ISAs.
Or do the rules mean that I have to open Natwests ISA with this years allowance and then transfer my previous ones into it?

BruceyBonus

In short, what you want to do is allowed.

In long, you can only pay £3600 into one ISA in a tax year. You can open as many as you want as long as they are not funded with "new" money, i.e. money that hasn't been transferred.