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Multiple old ISAs - can you combine them into a new one
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LittleRedHen789
Posts: 1 Newbie
Hello! Can you open a new cash ISA to transfer multiple old cash ISAs into, and then pay in this year's £20K allowance on top?
Thanks!
Thanks!
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Comments
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Yes you canRemember the saying: if it looks too good to be true it almost certainly is.1
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Ensure that your new provider's Cash ISA accepts transfers-in first then yes, you can. Be sure to use the new provider's transfer-in process. And don't forget about the £85k FSCS protection limit if you have >£60k in the multiple old Cash ISAs.0
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A point to consider when amalgamating ISAs into fixed term ones. If you may need to access some of the funds say for a new roof or similar then there may be penalties for taking some early. If you have funds elsewhere to deal with that then no problem.
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