Historical isa

edited 30 November -1 at 1:00AM in ISAs & Tax-free Savings
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thomas1thomas1 Forumite
22 Posts
edited 30 November -1 at 1:00AM in ISAs & Tax-free Savings
I wonder if anyone has the answer to my question , I have a previous e isa with Santander which pays me 0.6 percent , I have not paid into this isa for this year but I have upgraded it from its previous rate of 0.5 percent online . I have just opened a isa for this year with Shawbrook Bank and have placed the full years allowance into the new isa at 1.3 percent . My question is can I hunt the market and open another isa in this tax year and just transfer my Santander amount to it to obtain a better rate , or would this break the isa rules about opening more than one isa in the tax year . I would not be adding further money to any of the isas this tax year thanks for your thoughts .

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  • HappyHarryHappyHarry Forumite
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    thomas1 wrote: »
    I wonder if anyone has the answer to my question , I have a previous e isa with Santander which pays me 0.6 percent , I have not paid into this isa for this year but I have upgraded it from its previous rate of 0.5 percent online . I have just opened a isa for this year with Shawbrook Bank and have placed the full years allowance into the new isa at 1.3 percent . My question is can I hunt the market and open another isa in this tax year and just transfer my Santander amount to it to obtain a better rate , or would this break the isa rules about opening more than one isa in the tax year . I would not be adding further money to any of the isas this tax year thanks for your thoughts .

    That would be fine.

    The rules are not about opening multiple Cash ISAs, they are about contributing to multiple Cash ISAs.

    When you open the new ISA, most ISA providers give the option of either making a transfer in, or making an initial deposit. You just need to make sure that you select the transfer option.
    I am an Independent Financial Adviser. Any comments I make here are intended for information / discussion only. Nothing I post here should be construed as advice. If you are looking for individual financial advice, please contact a local Independent Financial Adviser.
  • Paul_DNAPPaul_DNAP Forumite
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    You could transfer it into your new Shawbrook ISA had it all together at 1.3% (see if you are past the transfer in window for that account) unless you have a need to have them in separate places.
    (Although I could be wrong, I often am.)
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