Transfer cash ISA and opening a new one

kaloss

I currently have a cash ISA opened with Halifax which has been filled with last year's allowance.

I was thinking to transfer that to the Charity Bank and then opening a new cash ISA for this year allowance with Coventry BS (which does not allow transfer) where I will add saving throughout this new year.

Is that possible?
I am not sure whether I could have 2 cash ISA with different banks at the same time

innovate

yes it is possible

kaloss

So, what is the procedure?
I open a new ISA with Coventry BS, then i transfer the old Halifax one to Charity Bank?
Ho can I specify that the the ISA i transfer to Charity Bank will not be top upped with this year allowance?

westy22

I open a new ISA with Coventry BS

Yes,

then i transfer the old Halifax one to Charity Bank?

No, you open a new ISA with Charity Bank and then ask them to transfer in money from the Halifax - check first that Charity will accept transfers in

Ho can I specify that the the ISA i transfer to Charity Bank will not be top upped with this year allowance?

You don't need to - just arrange the transfer in and then don't contribute any new money to Charity this year