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Can you open more than 1 cash ISA in the same tax year?
robster82
Posts: 2 Newbie
In Feb 2024, I transferred full amount from an instant cash isa into a new 1 year fixed cash isa. In April 2024 (so in a new financial year), I open a new instant cash isa. So far so good (i hope).
This month (Feb 2025) my 1 year fixed isa that I transferred into last Feb matured, and was automatically transferred into a new instant access cash isa by the bank. I now want to transfer all of this into a new 1 year fixed isa, is this allowed? Or do I have to wait until April 6th? And what are the implications if I don't wait until April 6th?
This month (Feb 2025) my 1 year fixed isa that I transferred into last Feb matured, and was automatically transferred into a new instant access cash isa by the bank. I now want to transfer all of this into a new 1 year fixed isa, is this allowed? Or do I have to wait until April 6th? And what are the implications if I don't wait until April 6th?
0
Comments
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You can transfer your maturing ISA into another without waiting for the tax year rollover, provided you use the receiving provider's ISA transfer process.1
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Thank you eskbanker for confirming that.0
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