FSCS Cover on Cash ISA >£85k Value

mattogier

I have been maxing out contributions on my cash ISA for a few years, the value is now approaching the FSCS cover limit of £85k.  Should I consider opening another Cash ISA with an alternate banking group for future investments?
TIA
Matt

eskbanker

If you want FSCS cover on the full amount then yes, you'd need to ensure you don't breach that limit with any single banking group/licence.

jimjames

mattogier said:

I have been maxing out contributions on my cash ISA for a few years, the value is now approaching the FSCS cover limit of £85k.  Should I consider opening another Cash ISA with an alternate banking group for future investments?

You might also want to consider if you need as much cash as that or whether investments (you've used the word but you're really taking about savings) are a better option for money you don't need short term.