Basic ISA question !
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swayzak
Posts: 111 Forumite
Hello
I recently opened a cash ISA with Paragon, and transferred 65k from my Virgin ISA. I then paid in 20k "new" money to this new ISA (my ISA allowance for 2018-19).
The Virgin ISA is now paying a rate of 0.51%.
Can I open another ISA to transfer the remaining Virgin ISA money into, to get a better rate on this ISA saving (without paying any additional money, as my ISA allowance for 2018/19 has already gone into the Paragon) ?
The rule as I understand it is that you can only open one CASH ISA per tax year, so I suspect not..
Thanks
I recently opened a cash ISA with Paragon, and transferred 65k from my Virgin ISA. I then paid in 20k "new" money to this new ISA (my ISA allowance for 2018-19).
The Virgin ISA is now paying a rate of 0.51%.
Can I open another ISA to transfer the remaining Virgin ISA money into, to get a better rate on this ISA saving (without paying any additional money, as my ISA allowance for 2018/19 has already gone into the Paragon) ?
The rule as I understand it is that you can only open one CASH ISA per tax year, so I suspect not..
Thanks
0
Comments
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You can only subscribe (i.e. pay new money) into one cash ISA per year but you can open more than one ISA if you wish to transfer previous years subscriptions.0
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Thanks - v helpful.0
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