Question about ISA

SteveSilva

I have an ISA from a previous year, there was a higher rate at North Rock so I opened an online ISA. But what I didn't do was transfer the existing cash sum in time and now that ISA rate has been withdrawn.
So am I only able to use the North rock ISA or can I open another ISA with a third company which allows transfers in?

le_loup

You can use another company to transfer in provided you made no payments into NR.
............. but don't forget that the new ISA provider has to make the transfer.

SteveSilva

Ok thanks but at the moment the money is with Santander not NR so do NR still have to transfer it?

dzug1

Where are you transferring it TO? That company must initiate the transfer.

SteveSilva

Oh ok thanks that makes sense

oldvicar

You can open as many new ISAs as you like to receive previous year(s) money and ask the new account provider to do the transfer.

But you can only put this year's new money into one ISA account.