Mini Cash ISA Help?

jertzy

I'm a bit new to all this saving stuff (due to the fact i've never had any to save!) I've read a number of threads & guides and its a bit ambiguous (to me anyway!)....

With the Mini cash ISA do i get £3000 to save in each tax year ie in year one I can save £3000 with bank A then in year 2 I can put an additional £3000 into a new mini ISA with bank B (retaining the £3000 with bank A) & so on?

thanks!

clock24

Yes, absolutely correct.

Murtle

a simple answer I believe is yes - you get the ISA allocation each year. You can save it with who you want and you can TRANSFER an ISA to another one....but don't CLOSE it....look on the main site here for a full detailed explanation of ISA's large and small! Martin explains it for the likes of me...

grumbler

jertzy wrote:

in year one I can save £3000 with bank A then in year 2 I can put an additional £3000 into a new mini ISA with bank B (retaining the £3000 with bank A) & so on?

YES. £3000 into a new ISA with bank B OR add £3000 to old ISA with bank A. Also you can put £3000 to B and transfer old £3000+ from A to B if you want (as Murtle already mentioned).