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    • bobblebob
    • By bobblebob 11th Apr 18, 6:52 AM
    • 520Posts
    • 78Thanks
    bobblebob
    Accidently opened a 2nd ISA
    • #1
    • 11th Apr 18, 6:52 AM
    Accidently opened a 2nd ISA 11th Apr 18 at 6:52 AM
    So I went to renew my ISA Saver Variable online this morning, and in my stupidity I accidently opened a 2nd ISA account instead of renewing. Ive now renewed the existing one, but the new account is showing in my online banking with NIL money in


    I wont be paying into this one as I know you can only pay into 1 per year, but is it best to call the bank to close it, or can I just leave it if I don't pay anything into that account?
Page 1
    • AirlieBird
    • By AirlieBird 11th Apr 18, 7:19 AM
    • 1,014 Posts
    • 824 Thanks
    AirlieBird
    • #2
    • 11th Apr 18, 7:19 AM
    • #2
    • 11th Apr 18, 7:19 AM
    If you've just opened it, you'll be within your cooling off period to cancel it.
    • bobblebob
    • By bobblebob 11th Apr 18, 8:13 AM
    • 520 Posts
    • 78 Thanks
    bobblebob
    • #3
    • 11th Apr 18, 8:13 AM
    • #3
    • 11th Apr 18, 8:13 AM
    Thanks. Rang the bank and closed it

    Will i get it trouble with HMRC now? Seeing as i renewed my current ISA and opened another one by mistake even tho i didn't pay any money in?
    • AirlieBird
    • By AirlieBird 11th Apr 18, 9:04 AM
    • 1,014 Posts
    • 824 Thanks
    AirlieBird
    • #4
    • 11th Apr 18, 9:04 AM
    • #4
    • 11th Apr 18, 9:04 AM
    Closing it in the cooling off period means it will be treated as if it was never opened at all.
    • bobblebob
    • By bobblebob 11th Apr 18, 9:10 AM
    • 520 Posts
    • 78 Thanks
    bobblebob
    • #5
    • 11th Apr 18, 9:10 AM
    • #5
    • 11th Apr 18, 9:10 AM
    Ah thats good to know. Thanks
    • molerat
    • By molerat 11th Apr 18, 9:22 AM
    • 18,574 Posts
    • 12,729 Thanks
    molerat
    • #6
    • 11th Apr 18, 9:22 AM
    • #6
    • 11th Apr 18, 9:22 AM
    You can open as many new ISAs in a year as you wish but you can only contribute to one so no rules broken.
    www.helpforheroes.org.uk/donations.html
    • bobblebob
    • By bobblebob 11th Apr 18, 9:33 AM
    • 520 Posts
    • 78 Thanks
    bobblebob
    • #7
    • 11th Apr 18, 9:33 AM
    • #7
    • 11th Apr 18, 9:33 AM
    I thought that applied to different types (ie 1 cash isa and 1 stocks/shares isa), rather than 2 of the same type?
    • Lokolo
    • By Lokolo 11th Apr 18, 10:23 AM
    • 19,980 Posts
    • 15,109 Thanks
    Lokolo
    • #8
    • 11th Apr 18, 10:23 AM
    • #8
    • 11th Apr 18, 10:23 AM
    You can open as many ISAs as you like - of the same type. You can only contribute new money to one of each type a year.

    i.e. I have HSBC ISA from last year. I open a Barclays ISA and contribute new money to it. I then open a Santander ISA and transfer my HSBC ISA to Santander ISA. I have only subscribed to one new ISA - the Barclays one.

    Perfectly fine.
    • bobblebob
    • By bobblebob 11th Apr 18, 10:39 AM
    • 520 Posts
    • 78 Thanks
    bobblebob
    • #9
    • 11th Apr 18, 10:39 AM
    • #9
    • 11th Apr 18, 10:39 AM
    Thanks. I did look online best way to cancel and the Halifax website mentioned in branch, nothing about over the phone. Rang them and the guy said he could cancel it.

    Also the website says can cancel online which you cant anymore so Halifax site needs updating
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