NISA providers

lle

When NISAs were announced one of the key features was their flexibility. I.e. the maximum of 15K could be split in any proportion between cash and stocks & shares and it is now possible to transfer from S&S to cash. However in the old system, I could choose to open a S&S ISA with my preferred provider and a cash ISA with a different provider. I never found one single provider which gave me the best deal for both.
All the publicity I have seen for the NISA implies that I can open a S&S NISA account and a separate cash NISA account but they have to be with the same single provider.
Is this the case? If so, there is a significant loss in flexibility.

ColdIron

Nothing has changed in this respect, you can still open separate cash and investment ISAs with different providers

Archi_Bald

No, you still can have everything that you had before - i.e. a cash ISA with provider A and an S&S ISA with provider B.

There are only 4 things that have changed compared with previous tax years :-

1. higher limit (though that isn't unusual, we often had increases in the past between tax years)
2. transfers from S&S to cash allowed
3. interest on cash held in S&S ISAs is no longer taxable (though not all S&S providers do pay interest on cash, and those that do pay pay no more than 1%)
4. AIM shares can be held in S&S ISAs

gadgetmind

Bonds maturing in <5 years are now also allowed in (N)ISAs.