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How many ISAs?

Imelda · 2017-10-26 08:53:22

Hi all I currently have £80k in a cash ISA (I know, I know...) paying 0.5%. I have not used this year's allowance. I want to transfer this sum to another bank to obtain a better rate but I do not want to add to it as I do not want to go over the £85,000 protection limit. Can I therefore open two ISAs? One to transfer and…

Comments

DennisTenus Posts: 483 Forumite

3 November 2017 at 6:39PM

jimjames wrote: »

Yes you would, depends on fund remit though

No, acc funds will reinvest all income

Yes that's correct. But you'd have received the income from the inc fund, just not had the effect of compounding it

Got it!

Thanks

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