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ISA question?
Plasticballs
Posts: 7 Forumite
Can I invest this years allowance into Coventry ISA 2.25% and transfer in an old ISA to Santander? 2.0% or would it be classed as opening 2 ISA's?
0
Comments
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An ISA transfer doesn't count as opening a new account. In theory, you could move several ISAs and still fund a new account.0
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Probably best to be 100% clear about the terminology - there is no limit to the number of ISAs you can open in any given tax year, but the rule is that you can only subscribe new money to one of them*. So, if you open a Coventry one (for new money) and a Santander one (for transfers only), that does count as opening two ISAs, but is perfectly fine as you're only paying new money into one of them....
* Let's ignore transfers of current year subscriptions for the purpose of this!0
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