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ISA topup

I put £3500 in a fixed ISA earlier this year. When I wanted to top it up the BS would not allow. What can I do with the £2140 for this year.

Comments

  • ColdIron
    ColdIron Posts: 9,960 Forumite
    Part of the Furniture 1,000 Posts Hung up my suit! Name Dropper
    You could see if your BS has another current ISA product, I believe you can have more than one ISA per year with the same company
    Give them a ring
  • Will give it a go
  • thenudeone
    thenudeone Posts: 4,462 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    As stated, some providers (but not many) allow you to invest in different ISA products all within one ISA allowance.
    eg Newcastle BS's MaximISA. Nationwide may do as well IIRC

    If they won't do that, you could transfer the ISA to a new provider which allows transfers in, then top up the remaining unused allowance, but there will probably be an interest penalty on the old account which may mean you get less than you invested to begin with.

    Whether it's worth it depends on the interest rates of the old and new accounts and how likely you are to use all my our allowance next year.

    Remember Interest added to the account doesn't count towards your allowance.
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    The earth needs us for nothing.
    The earth does not belong to us.
    We belong to the Earth
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