Transferring ISA's and opening another ISA

swallowtail97

I am fortunate to have two cash ISA's earning pittance in Interest. Is it possible to open two new ISA's which accept transfer ins than opening a third adding new money using this year allowance  all in the same tax year, or does the transferring one to another count as movement for the year.

C_Mababejive

It is the depositing of NEW money that triggers the ISA allowance. You caan therefore open as many ISAs as you like as long as you put nothing in them. You can open a new ISA and transfer existing ISA cash by invoking the ISA transfer mechanism. DO NOT wwithdraw the cash then redeposit it.

JGB1955

You might want to put all 3 ISAs into one pot.

Albermarle

swallowtail97 said:

I am fortunate to have two cash ISA's earning pittance in Interest. Is it possible to open two new ISA's which accept transfer ins than opening a third adding new money using this year allowance  all in the same tax year, or does the transferring one to another count as movement for the year.

If you spend some time reading through the forum, you will see this and many other questions about ISA's asked and answered numerous times, so a good way to get up to speed about ISA rules.