Can I open a second Cash ISA?
Can I open a second Cash ISA?
Author
Discussion

Matt..

Original Poster:

3,962 posts

213 months

Sunday 6th November 2022
quotequote all
Can I open another Cash ISA this year if the first one I opened this year has never been used?
I'm confused by the rules.

Thanks

Edited by Matt.. on Sunday 6th November 15:01

cuprabob

18,433 posts

238 months

Sunday 6th November 2022
quotequote all
I believe you can have as many Cash ISAs as you want but you are only allowed to contribute to one in a given financial year.

Matt..

Original Poster:

3,962 posts

213 months

Sunday 6th November 2022
quotequote all
cuprabob said:
I believe you can have as many Cash ISAs as you want but you are only allowed to contribute to one in a given financial year.
I find the rules confusing.

Most websites state that you can only open one of each type per year, but the Gov UK site only states that you can put money into one per type each year, it does not mention restrictions on opening accounts.

Simpo Two

91,629 posts

289 months

Sunday 6th November 2022
quotequote all
This seems to cover all the options: https://blog.moneyfarm.com/en/isas/how-many-isas-c...