2nd cash isa

sjh101

I already have one cash Isa in my name with natwest. I've had this for about 7 or so years now so I don't know how good the interest rate will be.

I have seen another cash isa with saffron building society. Could I open this isa and still keep the natwest isa open also?


Thanks

McKneff

You can open as many cash ISAs as you like, but you can only pay into one in any one financial year.


Check the interest rates, if the new one is better, get them to transfer the other money into it.


Don't attempt to do it your self.

xylophone

so I don't know how good the interest rate will be.

Will be? Has been?

Have you subscribed to the Natwest ISA in the current tax year?

Archi_Bald

sjh101 wrote: »

I don't know how good the interest rate will be.

Banks love people like yourself because you will with almost 100% certainty have been on a terrible interest rate for a few years. I.e. highly profitable for the bank. Nothing you can do about the past, but you can make a positive difference for yourself in the future.

Natwest rarely figure as best ISA interest payers. Saffron doesn't appear to have top rates either - you can find the best ones in post 1 of https://forums.moneysavingexpert.com/discussion/401374

You should check your interest rate at least once a year, and transfer (using the official ISA transfer process) if appropriate.