Principality more than 2 isas?

Bob2000

I've just opened a branch base isa((Easy Access)with PBS can l open a second isa with them (fixed online only)?

friolento

No. You can pay into additional ISAs with other providers.

What's the reason for wanting another one?

Bob2000

friolento said:

No. You can pay into additional ISAs with other providers.

What's the reason for wanting another one?

I opened one this month to transfer in 3 separate isa from 3 different providers to combine into one.
I was recommended  the easy access  by a staff member because l can do 5 withdrawal  with this particular  isa.

Not the best interest  rate but it suited my needs.
Now I've got two 1 year bonds maturing  at end of May  and was thinking of putting the cash into a second isa.
Thinking of the online 5 access version  currently  at 4.5%.

If this is not possible could l transfer my first one into the online one?
Both with PBS.

slinger2

Difficult to know, but it says "you can only pay into one cash ISA each tax year." Strictly speaking a transfer wouldn't count as paying into an ISA, so you may be allowed to do that. What the rules are about maturing ISAs is not clear either.

Worth noting that these easy access accounts are variable rate, so the rates may drop fairly soon. Also the bonus lasts for a year, so you'll need to keep an eye on it then and perhaps transfer it.

friolento

You need to ask Principality. It may be possible if you didn't actually put ny new money into the ISA you opened recently / if they let you transfer to a fixed rate. If all else fails, you can open another ISA elsewhere

Bob2000

slinger2 said:

Difficult to know, but it says "you can only pay into one cash ISA each tax year." Strictly speaking a transfer wouldn't count as paying into an ISA, so you may be allowed to do that. What the rules are about maturing ISAs is not clear either.

Worth noting that these easy access accounts are variable rate, so the rates may drop fairly soon. Also the bonus lasts for a year, so you'll need to keep an eye on it then and perhaps transfer it.

Yes that was my thinking if l transfer then technically  l would be replacing one isa with another?
Thanks anyway for replying. 

Bob2000

friolento said:

You need to ask Principality. It may be possible if you didn't actually put ny new money into the ISA you opened recently / if they let you transfer to a fixed rate. If all else fails, you can open another ISA elsewhere

I'll pop into branch tomorrow  to ask.
No new money only old money from previous  years.

Was going to fund the opening  £1 but just added  the transfer  cash instead. 

Kim_13

If all of your three ISA transfers contained previous year funds, you should be able to have both ISAs. Providers stipulating only one ISA per tax year with them is common, but I’m not aware of any saying only one period.  

ISAs can be transferred at any time and if you have an access available, there will be no penalty for this. But providers are allowed to not permit internal transfers (an external provider can be used as a workaround, transferring out and then back to the desired ISA.)

Bob2000

Kim_13 said:

If all of your three ISA transfers contained previous year funds, you should be able to have both ISAs. Providers stipulating only one ISA per tax year with them is common, but I’m not aware of any saying only one period.  

ISAs can be transferred at any time and if you have an access available, there will be no penalty for this. But providers are allowed to not permit internal transfers (an external provider can be used as a workaround, transferring out and then back to the desired ISA.)

Ok, thank you.
Will be  going into branch later to query.