We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
How many ISAs per person?!
SCUD
Posts: 110 Forumite
hello guys..
1) I have read somewhere someone talking about "old" ISA account, and others were talking about putting some money in the old one and some in the new ISA.
can someone please explain that?
I thought that you can open one ISA account only, and when you find better rate, you don't close it, but transfer it.
so where the old ISA accounts came from?
2) I have my savings in Santander's 2.5%.
and I would like to deposit some savings.
shall I use this year allowance now and add to the account above? or use the allowance with a better rate ISA? if it is possible to have more than one ISA!
1) I have read somewhere someone talking about "old" ISA account, and others were talking about putting some money in the old one and some in the new ISA.
can someone please explain that?
I thought that you can open one ISA account only, and when you find better rate, you don't close it, but transfer it.
so where the old ISA accounts came from?
2) I have my savings in Santander's 2.5%.
and I would like to deposit some savings.
shall I use this year allowance now and add to the account above? or use the allowance with a better rate ISA? if it is possible to have more than one ISA!
0
Comments
-
You can open more than one. You can only SUBSCRIBE (pay into) to one each Financial Year.
You can open new ones but leave / transfer old ones so long as you only subscribe to one each year so, yes, it is possible to have more than one.
Use the allowance with a better rate ISA unless you can use the full allowance.
They can't. They probably meant, put money into the old account then transfer to a new one.hello guys..
1) I have read somewhere someone talking about "old" ISA account, and others were talking about putting some money in the old one and some in the new ISA.
can someone please explain that?0 -
Thanks Deru
0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.3K Banking & Borrowing
- 253.7K Reduce Debt & Boost Income
- 454.4K Spending & Discounts
- 245.4K Work, Benefits & Business
- 601.1K Mortgages, Homes & Bills
- 177.6K Life & Family
- 259.2K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards