Multiple ISAs?

DancesWhenHappy

Typically there are restrictions on how often cash can be withdrawn from an ISA. Is it OK to simply open up many different cash ISAs to overcome this problem?

bryanb

You may only subscribe to one cash ISA in any tax year so it will take a while to achieve many ISAs

Paul_Herring

DancesWhenHappy wrote: »

Typically there are restrictions on how often cash can be withdrawn from an ISA.

These are imposed by the institutions themselves - it's not a restriction on ISAs per-se.

Is it OK to simply open up many different cash ISAs to overcome this problem?

Previous (tax) years' contributions may be split up as you wish. Current (tax) year's contributions must remain together in the same institution until they become 'previous year's contributions' on April 6th.

jamesd

Better to transfer your cash ISA to a place without the restrictions. I haven't had them on the cash ISAs I've had.