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Santander ISA oversubscribed
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pennine
Posts: 83 Forumite
Ok so I just got in contact with Santander to open a 2 yr cash Isa paying 2%.
I already have 2 maxed out 123 accounts with them and also the best part of 40K to transfer in from a maturing BM cash ISA later this month.
So I'm thinking to myself I will open up this new ISA with 5K and once my maturing ISA is moved over I should just be under the 85K FSCS with Santander.
I intended to open another cash ISA with another provider to then use the rest of this years ISA allowance, but Santander told me that I can only have 1 cash ISA in any tax year. Confused now as I thought that I could have more than 1 as long as I kept within the ISA limits for that year ??
I already have 2 maxed out 123 accounts with them and also the best part of 40K to transfer in from a maturing BM cash ISA later this month.
So I'm thinking to myself I will open up this new ISA with 5K and once my maturing ISA is moved over I should just be under the 85K FSCS with Santander.
I intended to open another cash ISA with another provider to then use the rest of this years ISA allowance, but Santander told me that I can only have 1 cash ISA in any tax year. Confused now as I thought that I could have more than 1 as long as I kept within the ISA limits for that year ??
0
Comments
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No, they are correct. You can only have 1 cash isa per year. You can also have a S&S ISA too.Remember the saying: if it looks too good to be true it almost certainly is.0
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