Fixed Rate Cash ISA & Easy Access Cash ISA

RichieRooo

Hi,

I currently have a Fixed Rate Cash ISA which will mature in July 2015 and also an Easy Access Cash ISA. I want to open a new Easy Access Cash ISA with another provider and also a new Fixed Rate Cash ISA as there are much better rates on offer than what I am getting at present. I read somewhere that you can only open one a year or something, just looking for clarification on what I can and cannot do in my current position?

Thanks
Rich

jimjames

How much is in your ISA?

Eco_Miser

You are allowed to pay new money into just one cash ISA each financial year. You can transfer old ISAs to new ISAs whenever you want, subject to all the current year's money staying together, and the specific terms and conditions of the ISAs in question.

If you haven't subscribed all the current year's allowance when you transfer the current year's ISA, you can add the rest of the allowance to that transferred ISA, subject to its T&Cs.