Advice on opening ISA required.

Opened one with

You can only have one cash mini ISA at a time and annual investment limit is

Alec

In message , Alec writes

You can have more than one mini cash isa at a time. But you can only contribute to one per Tax Year.

and you could pay in £3k a year for 5 years

You need not close the existing ISA when transferring funds out into another ISA, since you need not transfer the whole balance (even though generally that's what one would tend to do).

I transferred all my balance from elsewhere, which YBS could not do until very recently. It is very important if you are transferring balances to not close the account you are moving from. In the old days you used to close the account and then move the money yourself to the new account and you had a certificate from the old bank to prove it came from a tax exempt scheme.

In message , biggirlsblouse writes

Yes, that was for a maturing TESSA. You got a TESSA Maturity certificate whch was valid for 6 months.

You cant even do that for a matured Tessa now....again I am in the throws of moving that from Norwich & Peterborough who have declared the account a closed issue and reduced the rates accordingly to Nationwide at 4.8%. Trouble is there is a 30 day delay for this to happen due to their workload! That never used to happen. I walked out of one society with my cheque and certificate and an hour later I walked into my new society with my cheque and certificate of proof .... account opened on the spot!. It used to be all done and dusted in a couple of hours...not 31days!!