Cash Isa question

Markusskint

Hi - I've just opened a cash isa on line and have not added funds yet. I have decided I do not want to use the account (bad reviews regarding poor customer contact) and have asked them to close it but I should not expect any answer for at least a  week according to their automated reply. Ringing them is a waste of time as I am just on hold.

My question is - as I have not added funds and do not intend to do so can I open another cash isa that I will use?

(or do I have to wait until my first account is closed...asuming they do so...or can I only open one even if its not used and is closed in the tax year?)

Any comments or advice appreciated.

refluxer

As I understand it, you should be free to open another now as you haven't funded the first one.

The first ISA would presumably be closed automatically if it isn't funded by the deadline they gave you, but contacting them to close it is sensible and should speed things up a bit.

Ocelot

I once did this. For a few years I got statements on my 'ISA' telling me that my balance was 0 and my interest was 0, but that ended. It did not affect the ISA I did open.

Markusskint

Thanks for the replies & advice.

Good to hear I can go ahead and open a new cash isa.