Can I open 2 cash ISAs?

Simsybloke

What should I have said instead of "opening" an ISA?

Surely that's what is done isn't it?

Matt

Archi_Bald

Simsybloke wrote: »

The question;
"Does opening a Cash ISA with ONLY a transfer in, of itself, disallow paying cash into another Cash ISA in the same tax year?" ...

does only have a yes/no answer. I worded that very carefully... "of itself" was included in the question.

it does not have a yes/no answer, whatever you say.

Simsybloke wrote: »

You're correct... I don't understand all of the ISA rules. I was trying to get to the bottom of them bit by bit. However, if the answer to my question, "Does opening a Cash ISA with ONLY a transfer in, of itself, disallow paying cash into another Cash ISA in the same tax year?" is "Yes", then I need go no further. If the answer was "No" then I do need to delve deeper.

well, it might be yes, it might be no in your son's case but we don't know as you haven't given all the information needed.

Anyway, I am out as I can't see this ending in all the info being at hand.

Simsybloke

Son is over 18.
What's a JISA?
I saw it written earlier and assumed it was a typing error.
Regards,
Matt

Lokolo

Simsybloke wrote: »

Son is over 18.
What's a JISA?
I saw it written earlier and assumed it was a typing error.
Regards,
Matt

Junior ISA. i.e. Cash ISAs for Under 18s.

bryanb

CLAPTON wrote: »

well no


you can put new money (say 5k) in ISA A with bank A; then you can transfer this ISA in to a new ISA B with bank B
then you can add new money to ISA B(up to 10k)


all in the same tax year.

By my reckoning a transferred ISA is in fact the same ISA with a different provider. Hence the word "Transferred" But lets not argue.

CLAPTON

bryanb wrote: »

By my reckoning a transferred ISA is in fact the same ISA with a different provider. Hence the word "Transferred" But lets not argue.

being pedantic is fine : but are you correct?

ColdIron

All this talk about the ISA rules and no one has mentioned the dreaded subscribed word, I'll get my coat

badger09

ColdIron wrote: »

All this talk about the ISA rules and no one has mentioned the dreaded subscribed word, I'll get my coat

There was enough [STRIKE]confusion[/STRIKE] [STRIKE]clarification[/STRIKE] debate going on, without you coming over all official :rotfl:

jimjames

badger09 wrote: »

There was enough [STRIKE]confusion[/STRIKE] [STRIKE]clarification[/STRIKE] debate going on, without you coming over all official :rotfl:

Am I allowed to say a cash ISA is pointless yet?

jimjames

bryanb wrote: »

You can say it of course. But please explain how my Halifax fixed ISA paying 4% could be improved on if I wish to remain in cash.
Or even my Coventry Reward instant access ISA paying 2.5%?

Well I get 5% on my non ISA cash savings with instant access. Do you have instant access on your 4% ISA?

If someone has £1000 they can get 12.5% equivalent interest using current accounts with immediate access. I don't think any ISAs pay that much.