Cash ISA - paying into two providers

atstreetlevel

Hi all,

A quick one and apologies if this has already been covered. I want to switch my ISA provider and transfer my lump sum, but stupidly I kept my direct debits running from my current account into my old ISA at the beginning of the new tax year. Does this mean that I have to stay with this low paying rate for the rest of the year, given that I can't subscribe to two cash isas in the same year? Or is it possible to fill out a transfer form and move money to another cash isa provider (whilst making sure not to go over the year limit).

Any help appreciated, although unfortunately I think I know what the answer is going to be...

Thanks

Lokolo

You can move your current ISA to the new one (assuming it accepts transfers) and you can continue to deposit your allowance into the new one. You will in an ISA transfer form with the new provider.

Not all ISAs allow transfers. And you should remember to stop your standing order.