New Cash ISA Transfer - Opened Cash ISA in 2015 Already

Toki

I've already opened a Santander 2 year fixed cash ISA this year and put the full amount in including transferring a previous years ISA in.

I have now had a Halifax 5 year cash ISA mature and was thinking about opening the Coventry 5 year cash ISA at 2.4% and transfering that. Can I do this in light of opening 1 cash ISA already this year?

If not, how can I transfer the money from the new pitiful 0.2% it is now earning.

I don't believe I can transfer this into my already opened Santander ISA due to it being 2 year fixed.

Thanks in advance.

colsten

Yes you can transfer you Halifax ISA into wherever transfers-in are allowed. Official ISA transfers never count towards your annual allowance.

Toki

I thought you could only open 1 cash ISA per year?

http://www.moneysupermarket.com/isas/cash-isa-questions/

Q Can I have more than one ISA?

You can have multiple ISAs, but you can open only one cash ISA in each tax year.
So, if you have opened a cash ISA since April 6, 2015, you cannot open another one until April 6, 2016.

eskbanker

Toki wrote: »

I thought you could only open 1 cash ISA per year?

http://www.moneysupermarket.com/isas/cash-isa-questions/

Q Can I have more than one ISA?

You can have multiple ISAs, but you can open only one cash ISA in each tax year.
So, if you have opened a cash ISA since April 6, 2015, you cannot open another one until April 6, 2016.

That article is wrong!

You can open as many cash ISAs as you like every year, the rule is that you can only pay new money into one, but you can open further accounts if they're only going to be used for transfers of previous years' subscriptions.

Toki

Thanks Colsten and eskbanker!