confused!

sazlegreen

Hi

I opened a santander isa in october at 2.85%, now the rate is 3.3% is this just for new ones opening now or will the rate of mine now be this aswell?
so do i keep this years money (10/11) where it is & open a new isa with santander again for this year (11/12) so it is all at 3.3% until october and then it drops?
or do i have to transfer my existing isa to halifax to get 3% and still open a new one with santander to get 3.3% just for this years (11/12) quota?or can i not have two in different places?
when can i open a new one? as I don't want to pay in twice as i think u have to put in a £1 to both, so do i have to wait till april 5th to apply?
thanks for any help as i'm so confused about the whole thing!

blueberrypie

The 3.3% is for newly-opened ISAs.

Yes, you can keep the money where it is and open a new ISA with Santander.

Or you can transfer the existing ISA elsewhere and open a new ISA for 2011/12 - either with Santander or elsewhere. You can *have* as many ISAs as you want, with as many providers as you want - the only stipulation is that you can only put new funds into one each year.

You can open a new one now, as long as you don't fund it until after April 5th. Some ISA providers require that the ISA be funded as soon as it's opened - in those cases you'd have to wait until April 6th to open the account. Some allow the account to be opened and then funded within a certain length of time - e.g. 28 days - in that case you could open it now and fund it on or after April 6th.