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ISA transfer advice needed

I have two old ISAs earning next to nothing in interest and also want to start a new one this financial year (before Apr 6th 2024)

I have read loads of threads and other savings advice but can't seem to find (or perhaps can't understand) what I need to know

If I use up this years allowance of 20k starting a new ISA, can I transfer into the same new ISA my old ISAs on top of the 20k?

Or do I need to start a separate one for the transfers?

Or as they are old ISAs, can I create a new ISA just for them anyway?

Thank you for any advice anyone can give

Comments

  • eskbanker
    eskbanker Posts: 35,277 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    You can choose between any of those options and more, but if you wish to get previous year money into one or more new ISAs then you need to ensure that the new ones accept transfers in (not all do).
  • ColdIron
    ColdIron Posts: 9,642 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    Whoflung said:
    If I use up this years allowance of 20k starting a new ISA, can I transfer into the same new ISA my old ISAs on top of the 20k?
    Yes if the new ISA accepts transfers in
    Or do I need to start a separate one for the transfers?
    No you don't need to, many would keep them all together
    Or as they are old ISAs, can I create a new ISA just for them anyway?
    You could do if you had a good reason to. E.g. Your new ISA is easy access and you wanted to lock in for a year or more for a higher rate with the old ones or vice versa. But it has nothing to do with the fact that the old ones are, well, old
  • Thank you for the two comments which confirm what I thought was the case but wanted to be sure, so many thanks for that

    Its amusing being called a newbie having been here since 2009 ;-)

    Not posted for a while and was expecting an alert there was a comment but checked back just in case, glad I did
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