ISAs

Fredbet

I have an existing LISA with Moneybox,
I wish to contribute to  this in the 24-25 tax year
I would also like to contribute  to  a new fixed term ISA with Nationwide
I believe this is allowed provided both together do not exceed the 20k limit
Cashier Advice from Nationwide suggests this cannot be done
Is this incorrect or Nationwide Policy to accept ISAs under these terms

MSE_ForumTeam5

We've moved this to the dedicated area for ISA questions

badger09

Fredbet said:

I have an existing LISA with Moneybox,
I wish to contribute to  this in the 24-25 tax year
I would also like to contribute  to  a new fixed term ISA with Nationwide
I believe this is allowed provided both together do not exceed the 20k limit
Cashier Advice from Nationwide suggests this cannot be done
Is this incorrect or Nationwide Policy to accept ISAs under these terms

HMRC rules have always allowed you to subscribe (pay new money into) both a Cash ISA & a LISA in the same tax year subject to a max of £20k. 
Unfortunately you’ve encountered a cashier who doesn’t know what they’re talking about. 

Humph123

I’ve opened an ISA for my son with Charter Savings Bank.  When we went to move money from his Lloyds account into the new ISA they asked if we’d checked Charter Savings out.  We then discovered a clone warning on the FCA website.  

I’ve been going round the houses since to try and verify that the Charter Savings Bank we’ve been dealing with is legitimate and not a clone - this has taken me to Charter Court Financial Services and OSB (using a number listed on FCA website for Charter Savings Bank) where I asked for the phone number for Charter Savings Bank, hoping to be put through to them via a direct route.  The person on the other end gave me a phone number but admitted that they’d only got that phone number via google - they couldn’t independently verify the number for Charter Savings Bank.  None of this was very reassuring so I phoned the FCA who agreed that this was poor but weren’t really able to help me verify who I was dealing with either.

Any suggestions on how to go about due diligence in this instance?  Just want to be sure before moving all my son’s savings across!  Thanks!