Renewing Declaration on Old Cash ISA for Transfer-In Only?

MyPiggyBankIsFull

I have some money in 2 old Cash ISAs:

ISA1 (from 2023) - interest has dropped significantly
ISA2 (from 2024) - still paying an ok amount of interest

I'd like to transfer from ISA1 into ISA2. However, as ISA2 is inactive, it's asking me to renew my declaration in order to do so - fine, except I'd also like to open Cash ISA3 this year (which pays a higher interest rate than ISA2, but not on transfers in - so it doesn't make sense to transfer to ISA3).

Am I allowed to renew my declaration on ISA2 (only in order to transfer the money from ISA1) and also pay money for my 2026 subscription into ISA3, provided I don't put any "new" money into ISA2 in the 2026 tax year?

I think this is allowed(?) but having to renew my declaration made me pause. I don't want to renew on ISA2 if it precludes me from putting money for my 2026 allowance into ISA3 - I'd be better off finding a different new ISA3 for 2026 which offers a slightly lower rate of interest but also pays on transfers in.

Grateful for any advice on this! Thanks.

eskbanker

Yes, you can renew the declaration on ISA2 without compromising your ability to fund ISA3 - you wouldn't actually be subscribing new money to ISA2 but you are now permitted to fund multiple cash ISAs in the same tax year anyway (unlike when that wording was introduced) and no provider can stop you from doing so, despite what their old declarations may suggest.

MyPiggyBankIsFull

Perfect, thank you!