I'm new to ISAs.

SeriousHoax

Hi, back in November 2025, I opened a Trading 212 cash ISA with £20,000. It's my first cash ISA; I've always just had easy-access accounts and fixed-rate accounts. Can someone please tell me what to do with cash ISAs now it's the new tax year? Do I open a new ISA with £20,000?

MeteredOut

You can top up that ISA with another £20K, or you can open another ISA with another provider and put £20K into that.

If the new provider has a better interest rate, you can also transfer your old ISA to that new ISA and have £40K (+interest from your old ISA) in that new ISA.

Note, however, that different providers have different rules on whether they allow transfers in, or whether transfers in get the same rate as "new" money.

jimjames

SeriousHoax said:

Hi, back in November 2025, I opened a Trading 212 cash ISA with £20,000. It's my first cash ISA; I've always just had easy-access accounts and fixed-rate accounts. Can someone please tell me what to do with cash ISAs now it's the new tax year? Do I open a new ISA with £20,000?

An ISA is no different to the other savings accounts you already have except there is a £20k limit per year. You can keep your existing account and add to it or put the money elsewhere, entirely your choice.

Sapindus

Whatever you do don't take the £20k out of the existing ISA.  If you decide to move it to a better ISA, you must open the new one and ask the new provider to transfer the money across.  If you take it out to put it somewhere else it will lose its tax free status and count as your £20k for this year.

SeriousHoax

Thanks for your help. At the moment, I'm getting 4.50% with a Trading 212 cash ISA. Do you think I should put £20,000 in there, or open a new higher-rate cash ISA?

Albermarle

SeriousHoax said:

Thanks for your help. At the moment, I'm getting 4.50% with a Trading 212 cash ISA. Do you think I should put £20,000 in there, or open a new higher-rate cash ISA?

As we know nothing about you and your finances, it is very difficult to say what might be best.
For example you might be better off putting the money in your pension, or paying off your mortgage, or putting in a S&S ISA etc 

j_netprofit

SeriousHoax said:

Thanks for your help. At the moment, I'm getting 4.50% with a Trading 212 cash ISA. Do you think I should put £20,000 in there, or open a new higher-rate cash ISA?

I’ve not checked cash isa rates for a while but this seems like a very wise option to me. Again without knowing your personal circumstances it’s hard to be specific with advise but at least you know what your returns are likely to be here. You could always transfer out should something “better” come your way. 

Just DO NOT withdrawn and reinvest elsewhere. You must transfer using the new providers transfer system. 

SeriousHoax

Hi, thanks for your help. My circumstances are that I have no debts and am mortgage-free. All the money I have is savings; my cash is in easy-access and fixed-rate bonds.

masonic

If you have no debts, a home with no mortgage, and in excess of £40k savings, then investments are certainly a consideration to be put on the table.