📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Can you open more than 1 cash ISA in the same tax year?

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?

Comments

  • eskbanker
    eskbanker Posts: 37,459 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    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.
  • Thank you eskbanker for confirming that.
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 351.3K Banking & Borrowing
  • 253.2K Reduce Debt & Boost Income
  • 453.7K Spending & Discounts
  • 244.2K Work, Benefits & Business
  • 599.4K Mortgages, Homes & Bills
  • 177.1K Life & Family
  • 257.7K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.2K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.