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    • swayzak
    • By swayzak 17th Apr 18, 9:26 PM
    • 88Posts
    • 4Thanks
    Basic ISA question !
    • #1
    • 17th Apr 18, 9:26 PM
    Basic ISA question ! 17th Apr 18 at 9:26 PM

    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..

    Last edited by swayzak; 17-04-2018 at 9:52 PM.
Page 1
    • moneymagic
    • By moneymagic 17th Apr 18, 9:31 PM
    • 39 Posts
    • 198 Thanks
    • #2
    • 17th Apr 18, 9:31 PM
    • #2
    • 17th Apr 18, 9:31 PM
    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.
    • swayzak
    • By swayzak 17th Apr 18, 9:51 PM
    • 88 Posts
    • 4 Thanks
    • #3
    • 17th Apr 18, 9:51 PM
    • #3
    • 17th Apr 18, 9:51 PM
    Thanks - v helpful.
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