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More isa questions

Photoframe55
Photoframe55 Forumite Posts: 44
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Hi all,     
Is it OK to open a few different isa accounts with different providers in the same year, so's to have different options etc, as long as you don't actually fund more than one with new money in the same tax year? 
Also,  with isa accounts from previous years, you can transfer them into a new one that you fund this year, but you can also open a new one just to transfer into (not to actually fund) ?      I hope this makes some sense!   

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  • Doctor_Who
    Doctor_Who Forumite Posts: 835
    Part of the Furniture 500 Posts Name Dropper Photogenic
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    Is it OK to open a few different isa accounts with different providers in the same year, so's to have different options etc, as long as you don't actually fund more than one with new money in the same tax year? 
    I assume you only mean cash ISAs? You can open as many as you like as long as you only fund one cash ISANot sure why you would want to though?

    Also,  with isa accounts from previous years, you can transfer them into a new one that you fund this year, but you can also open a new one just to transfer into (not to actually fund) ? 
    Yes, you can open a new cash ISA and transfer-in previous years' subscriptions. You can also fund this ISA if you want with this year's subscription as long as that's the only cash ISA you subscribe (add new money) to this year.

    'Compound interest is the eighth wonder of the world. He who understands it, earns it; he who doesn’t, pays it' - Albert Einstein.
  • refluxer
    refluxer Forumite Posts: 2,104
    1,000 Posts Third Anniversary Photogenic Name Dropper
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    Is it OK to open a few different isa accounts with different providers in the same year, so's to have different options etc, as long as you don't actually fund more than one with new money in the same tax year? 
    As mentioned above, yes you can do this but just be aware that cash ISA accounts would normally need to be funded within a certain amount of time (often 2-4 weeks) either with cash or an ISA transfer, otherwise it'll get closed.
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