can I still open another isa?

dazza-mac

Hi,

I applied for a 2 yr fixed isa with BM. After some confusion about being able to transfer an old isa in I decided to cancel the account within 14 days of opening it and never sent any money.

The aim was to then let my Halifax isa mature in May, then top it up with this years allowance then fix for 3 years.

But now I'm worried that I may not be able to because of the BM isa (which I cancelled). Will I have been deemed to have opened an isa with BM even tho I never put a penny in, and now not be allowed to top up with the Halifax with this years allowance?

talana

dazza-mac wrote: »

But now I'm worried that I may not be able to because of the BM isa (which I cancelled). Will I have been deemed to have opened an isa with BM even tho I never put a penny in, and now not be allowed to top up with the Halifax with this years allowance?

It matters not a jot how many isas you open, only that you subscribe to one per year.
So to answer your question....

can I still open another isa?

Yes.

thenudeone

If you did not send any money, it does not count as a subscription, and your allowance is still available.

dazza-mac

Thanks for putting my mind at rest. I thought I'd made a huge error and lost the opportunity to put in this years allowance.

I shall now top up my Halifax isa in May and then fix for 3 years. I was concerned at locking away my cash for 3 years but as I'm useless with fincancial jargon, I thought it best to put it away and hope that fixing at 4.25% turns out to be a good move.