Moneybox---How Do I Take Out New 25/26 Cash ISA

daveoc22

I opened a new Moneybox 'open access cash isa' yesterday and completed details for my previous years cash isa with Chip to be transferred to them. Less than 24 hours later it's all done and money is with Moneybox--impressive.

My question is, I have not taken out a 25/26 cash isa yet and I would like to do it with Moneybox using my new 'open access' account. I can see how to transfer money from my nominated Bank by DD, but do I not have to fill out an application form as well for a new isa for this tax year?.

friolento

You can only have one cash ISA at Moneybox (ever). You can make deposits up to your remaining 25/26 allowance into the ISA you opened yesterday. No further applications to make. If you still have that ISA next financial year, you can make further deposits into it, up to whatever your allowance might be next year, and so on.

If you transfer your ISA out of Moneybox, you can't have another ISA with them - unless they change their policy and their systems, for which there don't appear to be any plans at present.

daveoc22

Thanks, I'm probably living in the past where you seemed to have to complete a new application form each year. I remember one year my wife wanted a new one with Nationwide and not only did we have to make an appointment to be seen but we had to sit thru a long video presentation to determine if we knew what we were doing. Times have changed.

Emily_Joy

daveoc22 said:

Thanks, I'm probably living in the past where you seemed to have to complete a new application form each year. I remember one year my wife wanted a new one with Nationwide and not only did we have to make an appointment to be seen but we had to sit thru a long video presentation to determine if we knew what we were doing. Times have changed.

It is called ISA reactivation form. But since you opened the account this tax year there is nothing to reactivate.

Albermarle

daveoc22 said:

Thanks, I'm probably living in the past where you seemed to have to complete a new application form each year. I remember one year my wife wanted a new one with Nationwide and not only did we have to make an appointment to be seen but we had to sit thru a long video presentation to determine if we knew what we were doing. Times have changed.

If you open an ISA this tax year, and next tax year there is no activity on the account and then you try to add to it the following tax year, it will ask you for your details again.