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Isa transfer to one provider, use allowance with another?
Itshouldntbethisdifficult
Posts: 2 Newbie
Any ideas please. Can I transfer a matured one year cash isa ( now an instant access cash isa with a low rate) to a new cash isa with same provider, to get a better interest rate AND open a new cash isa with another provider to fund with annual £20k allowance? Reason is to avoid going over the £85k fcsc protection . My concern is this may constitute opening 2 cash isas in one year.
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Comments
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There is no limit to the number of cash ISAs you can open each tax year, but you can only use your annual allowance with one cash ISA in each tax year.
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Thank you, that is good news.0
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