Cash ISA question

TisMeBill

I currently have no ISA's, but I am thinking of opening a Nat West fixed term cash ISA, as they are currently the best paying of this type of account. The account does not have to be funded until the end of August, so I would open that account now to have it in place, but will not fund it until nearer the deadline. However if a better rate comes along in the meantime, would I still be able to open a second cash ISA and fund the second rather than the Nat West one?

wiseonesomeofthetime

In short, yes.

You can OPEN as many cash ISA as you like in a tax year, however, you can only SUBSCRIBE (deposit) into one. So as long as you don't fund the NatWest one, you'll be fine 

jimjames

Where is your cash at the moment?

trickydicky14

TisMeBill said:

I currently have no ISA's, but I am thinking of opening a Nat West fixed term cash ISA, as they are currently the best paying of this type of account. The account does not have to be funded until the end of August, so I would open that account now to have it in place, but will not fund it until nearer the deadline. However if a better rate comes along in the meantime, would I still be able to open a second cash ISA and fund the second rather than the Nat West one?

The way things are going for a lot of folks you will be lucky to open a Nat West ISA before the end of August, please read some of the comments on this forum, good luck.