Adding additional funds to a fixed rate cash ISA throughout the term

Canny_mal

I'm sure i've seen this raised before but can't find the thread despite searching for a while. 

Which providers allow you to add further funds throughout the fixed rate term? 

refluxer

Shawbrook, Barclays, Kent Reliance and Lloyds all allow you to add new subscriptions throughout the fixed rate period. 

Of those, Shawbrook tend to have the best rates.

refluxer

Note that they all have limited funding windows for transfering in though, apart from Shawbrook who state that requests for transferring in at a later stage are considered at their discretion.

slinger2

The only thing that I've found a little frustrating about Shawbrook is their one ISA rule: "you can only open one Cash ISA with Shawbrook per tax year." Perhaps it's because I don't fully understand the rule. Recently I had an ISA with them that matured. I rolled it over into another ISA with them, and now it seems I can't open another ISA with them until 6 April.

masonic

slinger2 said:

The only thing that I've found a little frustrating about Shawbrook is their one ISA rule: "you can only open one Cash ISA with Shawbrook per tax year." Perhaps it's because I don't fully understand the rule. Recently I had an ISA with them that matured. I rolled it over into another ISA with them, and now it seems I can't open another ISA with them until 6 April.

That's not my understanding of how their internal rule should be applied. I was under the impression it only applied to current year ISAs.

GrubbyGirl_2

slinger2 said:

The only thing that I've found a little frustrating about Shawbrook is their one ISA rule: "you can only open one Cash ISA with Shawbrook per tax year." Perhaps it's because I don't fully understand the rule. Recently I had an ISA with them that matured. I rolled it over into another ISA with them, and now it seems I can't open another ISA with them until 6 April.

That's not correct.  I think it's their system that's the problem not them.  If you contact them and say which ISA you want to open they will  manually open it for you

slinger2

masonic said:

slinger2 said:

The only thing that I've found a little frustrating about Shawbrook is their one ISA rule: "you can only open one Cash ISA with Shawbrook per tax year." Perhaps it's because I don't fully understand the rule. Recently I had an ISA with them that matured. I rolled it over into another ISA with them, and now it seems I can't open another ISA with them until 6 April.

That's not my understanding of how their internal rule should be applied. I was under the impression it only applied to current year ISAs.

When I log in to Shawbrook and look for new savings products, the ISAs currently don't appear., only non-ISA products. My recollection is that before I rolled over the ISA recently I would have been able to open a new ISA (not 100% sure about that). Perhaps (in my case) it relates to the fact that I added some new 24/25 money to the old ISA. As I say, I don't really understand the rule.

masonic

slinger2 said:

masonic said:

slinger2 said:

The only thing that I've found a little frustrating about Shawbrook is their one ISA rule: "you can only open one Cash ISA with Shawbrook per tax year." Perhaps it's because I don't fully understand the rule. Recently I had an ISA with them that matured. I rolled it over into another ISA with them, and now it seems I can't open another ISA with them until 6 April.

That's not my understanding of how their internal rule should be applied. I was under the impression it only applied to current year ISAs.

When I log in to Shawbrook and look for new savings products, the ISAs currently don't appear., only non-ISA products. My recollection is that before I rolled over the ISA recently I would have been able to open a new ISA (not 100% sure about that). Perhaps (in my case) it relates to the fact that I added some new 24/25 money to the old ISA. As I say, I don't really understand the rule.

If you've added some new 24/25 money to the old ISA, then you have subscribed to an ISA in 24/25 at Shawbrook, so the internal rule has been correctly applied. Had you done this in a previous tax year, you would not have been allowed to subscribe to another cash ISA anywhere else. At least you have that option now.

sammy_zammy

slinger2 said:

masonic said:

slinger2 said:

The only thing that I've found a little frustrating about Shawbrook is their one ISA rule: "you can only open one Cash ISA with Shawbrook per tax year." Perhaps it's because I don't fully understand the rule. Recently I had an ISA with them that matured. I rolled it over into another ISA with them, and now it seems I can't open another ISA with them until 6 April.

That's not my understanding of how their internal rule should be applied. I was under the impression it only applied to current year ISAs.

When I log in to Shawbrook and look for new savings products, the ISAs currently don't appear., only non-ISA products. My recollection is that before I rolled over the ISA recently I would have been able to open a new ISA (not 100% sure about that). Perhaps (in my case) it relates to the fact that I added some new 24/25 money to the old ISA. As I say, I don't really understand the rule.

I opened an ISA with them this year and they still show up when I’m logged in, I had to click a drop down to view ISAs though. That said, I haven’t actually contributed to the ISA yet.

slinger2

masonic said:

slinger2 said:

masonic said:

slinger2 said:

The only thing that I've found a little frustrating about Shawbrook is their one ISA rule: "you can only open one Cash ISA with Shawbrook per tax year." Perhaps it's because I don't fully understand the rule. Recently I had an ISA with them that matured. I rolled it over into another ISA with them, and now it seems I can't open another ISA with them until 6 April.

That's not my understanding of how their internal rule should be applied. I was under the impression it only applied to current year ISAs.

When I log in to Shawbrook and look for new savings products, the ISAs currently don't appear., only non-ISA products. My recollection is that before I rolled over the ISA recently I would have been able to open a new ISA (not 100% sure about that). Perhaps (in my case) it relates to the fact that I added some new 24/25 money to the old ISA. As I say, I don't really understand the rule.

If you've added some new 24/25 money to the old ISA, then you have subscribed to an ISA in 24/25 at Shawbrook, so the internal rule has been correctly applied. Had you done this in a previous tax year, you would not have been allowed to subscribe to another cash ISA anywhere else. At least you have that option now.

The implication being that if I'd have opened a cash ISA with them early in the 24/25 tax year, I wouldn't have been allowed to add new 24/25 money to my old ISA later.

masonic

slinger2 said:

masonic said:

slinger2 said:

masonic said:

slinger2 said:

The only thing that I've found a little frustrating about Shawbrook is their one ISA rule: "you can only open one Cash ISA with Shawbrook per tax year." Perhaps it's because I don't fully understand the rule. Recently I had an ISA with them that matured. I rolled it over into another ISA with them, and now it seems I can't open another ISA with them until 6 April.

That's not my understanding of how their internal rule should be applied. I was under the impression it only applied to current year ISAs.

When I log in to Shawbrook and look for new savings products, the ISAs currently don't appear., only non-ISA products. My recollection is that before I rolled over the ISA recently I would have been able to open a new ISA (not 100% sure about that). Perhaps (in my case) it relates to the fact that I added some new 24/25 money to the old ISA. As I say, I don't really understand the rule.

If you've added some new 24/25 money to the old ISA, then you have subscribed to an ISA in 24/25 at Shawbrook, so the internal rule has been correctly applied. Had you done this in a previous tax year, you would not have been allowed to subscribe to another cash ISA anywhere else. At least you have that option now.

The implication being that if I'd have opened a cash ISA with them early in the 24/25 tax year, I wouldn't have been allowed to add new 24/25 money to my old ISA later.

That is correct. My understanding is that their internal rule mirrors the invalid combination of ISAs rule that existed until April 2024.