Opening Fixed Rate ISA 12 & 24 month

phillw Forumite Posts: 5,534
Tenth Anniversary 1,000 Posts Name Dropper
edited 14 August at 3:37PM in Savings & investments
If you opened a 12 month and 24 month Cash ISA at RBS, would that count as paying into two cash ISAs? Or do they report it as one?


  • refluxer
    refluxer Forumite Posts: 2,120
    1,000 Posts Third Anniversary Photogenic Name Dropper
    edited 14 August at 4:13PM
    You wouldn't be able to fund them both with money from this year's ISA allowance if that's what you mean ? You're only allowed to pay money from this tax year's allowance into one cash ISA at any one time unless the provider offers a 'portfolio'-type of approach (where you are permitted to spread the current tax-year's allowance over multiple cash ISAs) but I don't think RBS does, though. (Paragon, Nationwide and Zopa are examples of providers who do). 

    Opening both RBS ISAs, paying new subscriptions into one and funding the other with a transfer containing subscriptions from a previous tax year would be fine, however.
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