Splitting my isa saver between two new providers

callisto30

I am currently in the process of moving savings out of an extremely poor Instant ISA Saver. I have begun  opening one account ( a long process) with part of the savings and was going to open another account with the remainder. Midway through application, I noticed that you’re not allowed to open two cash ISAs in one tax year.

Does this mean I’m not allowed even though I’m splitting an original account between new ones ?

In which case do I wait until second week of April to open a second one.
Alternatively do I go ahead with the second application? ( Perhaps they  will pause interest until after April 5th).

xylophone

Have you subscribed to this poor paying ISA in the current tax year?

If so, the whole amount subscribed this year must be transferred to one of the new ISAs.

The balance can be transferred to the other new cash ISA.

If all the money in the poor ISA was subscribed in previous tax years, then you may split it as you wish.

Remember that the new providers must request the transfers.

Albermarle

You can open as many Cash ISA's in a tax year as you like, but you can only add new money to one per tax year.

If you spend some time reading through this forum, you should get up to speed regarding all the ISA rules.