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ISA opening confusion

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  • Malchester
    Malchester Posts: 986 Forumite
    Eighth Anniversary 500 Posts Photogenic Name Dropper
    friolento said:
    Your existing ISA is not subject to the annual deposit limit. The money in your existing ISA will retain its tax shelter as long as you do not withdraw it.

    You can open as many ISAs as you like, so there is no  reason why you cannot put cash into a new ISA with Lloyds or anyone else now, and transfer your matured ISA to another ISA later in the year. That said, I have not seen anything in the Lloyds ISA T&Cs about a 60 day limit for transfers in. So there might be another misunderstanding.
    Lloyds fixed ISAs can be added to at any time, no funding window. I opened my 1 yr fix several weeks ago and only transferred funds this week. Also opened 2 year ISA with them in February and added further funds by transfer this week.
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