Cash ISA Query...

would have thought the government would have put quite high limits on them as they need people to save up with the pensions the way they are.
 
Have you had some great returns?, so then the next year you put in another 7k, and it adds it to last years return and investment, so you have roughly 15-17k in the second year if all goes fairly well? - I presume these are the MAXI share ISA's
 
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Another Cash ISA question.
I have an ISA with Bank A that I don't put money into or take out of.
Can I open another ISA with Bank B, or do I have to close/transfer the account with Bank A?
Thanks.
 
agony said:
OOO, I know on this one ;)
Some of the ISA's allow you to transfer the balance to a new bank, may cost however you need to check on your individual ISA.
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I found this on MoneySavingExpert...
Only one mini-cash ISA per year. You can only have a Mini Cash ISA with one provider in any tax year – you can't split it. However you can hold cash-ISAs from different years with different providers.

You can also transfer to some providers if you prefer to have all your money in one place.
 
agony said:
You would get more interest if they are in one place ? :s
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Swings and roundabouts. Probably wouldn't be that different - all ISA rates are much the same. Having £3k in one bank at 6% and £6k in another bank at 6% will earn you the same interest as having them all in the same account at 6%.

Moving your Cash ISAs is a bit of an effort though. Don't do what loads of people manage every year and just take all the money out and then find you lose x years of your tax-free money because you can't then put it into another. You have to follow the procedures on transferring from one Cash ISA to another.
 
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