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Transfer existing ISA to provider A, and then opening a new one at provider B?
nm1213
Posts: 70 Forumite
Hello,
Thank you in advance for any help. I currently have an NS&I Direct ISA that will drop in interest rate for the next year.
Is it possible to transfer this ISA to another provider who allows transfers... and then open another ISA for the upcoming 2008-2009 year and put another £3600 in there?
By doing this, I'll be effectively "opening" two ISAs in a year, and not sure if this is allowed.
N.
Thank you in advance for any help. I currently have an NS&I Direct ISA that will drop in interest rate for the next year.
Is it possible to transfer this ISA to another provider who allows transfers... and then open another ISA for the upcoming 2008-2009 year and put another £3600 in there?
By doing this, I'll be effectively "opening" two ISAs in a year, and not sure if this is allowed.
N.
0
Comments
-
Yes it is allowed. Transfers do not count as "funding" an ISA.0
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