Nationwide Triple Access ISA additional top up warning

thingswerentthisbadinmyday

Morning all,
I help my mother with her banking affairs via Financial POA.
Yesterday, I thought it would be a good idea to make a small transfer from her savings account into her ISA. She has plenty of headway within the £20k limit.
I am very familiar with the majority of rules and regulations and being a Nationwide customer myself, I understand how their transfer between accounts works.
When part way through the transfer, I was met with the following warning message;
”……. If you make or have made a subscription into your Nationwide cash ISA during the current tax year, you cannot subscribe to another cash ISA with another provider until the start of the new tax year”.
It is me who has underlined and made bold ‘another provider’.
How can this possibly be correct?
Surely I am allowed to contribute to as many cash ISAs as I choose to in the same tax year, subject to the overall £20k limit and any additional restrictions which individual providers may have regarding multiple accounts with themselves.
Thanks

Rich2808

Just ignore this wording - the ISA regulations approved by Parliament trump Nationwide's terms and conditions which are out of date and ignore the changes made on 1 April 2024.

They cannot prevent you opening as many cash isas as you like with other providers - as long as you don't exceed the £20k subscription limit combined then you are acting perfectly lawfully.

Nationwide can only restrict what accounts you open with them - not anyone else - as long as you act within statutory rules. Nationwide are also a split/portfolio isa provider so you can also open/pay into multiple isas with them using your allowance.

thingswerentthisbadinmyday

Rich2808 said:

Just ignore this wording - the ISA regulations approved by Parliament trump Nationwide's terms and conditions which are out of date and ignore the changes made on 1 April.

They cannot prevent you opening as many cash isas as you like with other providers - as long as you don't exceed the £20k subscription limit combined then you are acting perfectly lawfully.

Nationwide can only restrict what accounts you open with them - not anyone else - as long as you act within statutory rules. Nationwide are also a split/portfolio isa provider so you can also open/pay into multiple isas with them using your allowance.

Thanks for the reply.
Exactly what I thought.

eskbanker

Rich2808 said:

Just ignore this wording - the ISA regulations approved by Parliament trump Nationwide's terms and conditions which are out of date and ignore the changes made on 1 April.

They cannot prevent you opening as many cash isas as you like with other providers - as long as you don't exceed the £20k subscription limit combined then you are acting perfectly lawfully.

At the risk of being pedantic, the restriction was only ever on subscribing to (rather than opening) multiple ISAs of the same type, and this was repealed with effect from 6 April 2024.