Pay into old ISA then transfer to new one?

Reue

Hi guys, Im wondering if its possible to put money into an ISA already open from last year, then at a later date open a new ISA and transfer into that?

saintalan

If the offer on your existing a/c is still current and open you may be able to add to it but it will be this year (13/14) money so you would only be able to add up to the max in any new fund transferred to.

Remember though you can NOT have 13/14 money in more than 1 ISA at a time.

Reue

saintalan wrote: »

If the offer on your existing a/c is still current and open you may be able to add to it but it will be this year (13/14) money so you would only be able to add up to the max in any new fund transferred to.

Remember though you can NOT have 13/14 money in more than 1 ISA at a time.

I planned to put all of my 13/14 allowance into the 12/13 account.. then in a month transfer the whole lot into another bank.

david78

You can do this. No problem.

thenudeone

But you might find that the best rates are available to new money only. By putting new money into your existing ISA first, you won't be able to apply for those accounts.