2 cash ISA's with same provider

Just wondering if there is anything really wrong about this?
A week or so ago i opened a Virgin ISA and started a transfer, (its still in progress). The ISA transferring in is only previous years contributions.
Today i opened a second Virgin ISA and started another transfer. This ISA transferring has both previous years and current years contributions.
I understand it probably doesn't make much sense to have 2 cash Isas at the same bank. The only way to transfer a second ISA into the initial Virgin one was to send a paper form, so i thought it easier to open a second Virgin ISA and arrange transfer during opening process.

Replies

  • masonicmasonic Forumite
    20.4K Posts
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    Forumite
    Nothing wrong with this. Sometimes it makes sense to have more than one, for example fixed term ISAs or a mixture of fixed and easy access.
  • AlbermarleAlbermarle Forumite
    16.5K Posts
    10,000 Posts Fourth Anniversary Name Dropper
    Forumite
    Nothing wrong with this.
  • edited 5 November 2022 at 9:34AM
    ShedmanShedman Forumite
    1.3K Posts
    Eighth Anniversary 1,000 Posts Photogenic Name Dropper
    Forumite
    edited 5 November 2022 at 9:34AM
    Interesting as I was on chat earlier and was told you couldn't have 2 exclusive flexi ISAs.   But then the Chat Agent didn't exactly inspire confidence in their knowledge..surprise surprise.
    I'll give a go as don't want to go through the paper submission palaver to transfer into the existing one. It'll be handier having two anyway in case I want to transfer one to a fix ISA or to an S&S Isa at some point.

    EDIT:   seems to have worked OK.  Two Exclusive Flexi ISA 2 now showing on the account.
Sign In or Register to comment.
Latest MSE News and Guides

British Gas prepay meter users...

...to pay less for gas from 1 April

MSE News

The 'odd Easter flavours' thread 2023

What bizarre food stuffs have you spied?

MSE Forum

Energy Price Guarantee calculator

How much you'll likely pay from April

MSE Tools