ISA Query 20 December 2022 at 8:50PM in Savings & investments 2 replies 181 views

Madmountainman

I'm looking to put a largeish amount of cash into some easy access savings and have a question on easy access ISA's. Is there a maximum amount you can put into one of these, as it's not that clear to me on MSE's website guide and I may just be better off in an easy access savings account.

eskbanker

You have an ISA contribution allowance of £20K per tax year, so can't exceed that, although most accounts will accept higher amounts if paid in across multiple years if that's what you're meaning....

Albermarle

Different providers, have different maximum limits, but usually it is a pretty high amount ( > £100K ) . So with a max contribution per tax year of £20K , it will take a while for any limits to become an issue.
On the other hand it is advisable not to have more than £85K with any one provider, as this is the maximum covered by the FSCS compensation scheme, in case of something going wrong.