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Transferring Old Cash Isas - Possible To Split?


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#1 europbaron

europbaron

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Posted 03 April 2012 - 08:35 AM

I know it is possible to transfer your old ISA to your new provider. However, as nearly all ISAs with the best rates drop their interest rate after a year or so, I've always transferred and have ended up with a large proportion of my savings with one provider. Is it possible to open two cash ISAs in a year and do partial transfers to both? E.g. say I have 10k in my ISA at the end of this tax year, can I open two cash ISAs and transfer in 3k to one and 7k to the other, then only put new funds in the 3k one in the 2012-13 tax year?

This isn't to avoid the 85k guarantee limits - I'm not that wealthy. It's just that I am not comfortable having such a large proportion of my savings with one provider.

Edited by europbaron, 03 April 2012 - 08:36 AM.





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