Transferring old cash ISA and opening a new cash ISA

Louise_6

Hi everyone!

I opened a cash ISA with Barclays last year which has reached it's full amount. I have today opened up a 1 year fixed rate ISA with Santander and have told them that I want to transfer an old cash ISA's money into it and am waiting for them to send my the forms to do this.

My question is can I still open another cash ISA for this year that I can start putting money into seperately?

Any advice would be much appreciated!

Louise x

McKneff

When you opened your fixed rate ISA, did you put any cash into it.

thenudeone

If you haven't put any new money into Santander (or into any other Cash ISA) since 6th April then you are still free to put the allowance into any Cash ISA you choose.

Official Transfers arranged directly between providers do not count towards your allowance.

Louise_6

Thanks for your replies guys!

At present I haven't put any cash into the new ISA. I was going to fill out an ISA transfer form and get Santander to move it from the Barclays ISA into the fixed rate one I have just opened.

I was then planning to open another new cash ISA for this year to put more money into but wasn't sure if I'd be able to do this!?!

innovate

yes, transfers do not count towards your annual allowance. so you will be fine doing what you describe