cash isa confusion - pls help

sparkling_butterfly

I am a bit confused about cash isa's. I already have one but am allowed to open another cash isa account with another bank/building society?

zzzLazyDaisy

Each year, starting 5th April, you are given a new cash ISA allowance.

So even if you have cash ISAs from previous years, you can still open another one this year, with any bank you choose.

If you have opened a cash ISA since April 2009, you can add to it this year up to the max of £3,600 (increasing to £5,100 on 6th October if you are over 50), or you can move it to another bank, but you can't open a new one until next April (by then the upper limit will be £5,100 for everyone).

Hope this answers your question

sparkling_butterfly

Thanks! That clears up the confusion! x