CASH ISA Query

You are restricted. You can't put money into more than one mini cash ISA in any one tax year.

Bitstring , from the wonderful person Ed said

You can only contribute to one in any tax year. You can contribute to B (since it is 'active') without filling in any forms. If you want to contribute to A again, you'll need to fill in a new application form with your NI number etc. etc.

I thought you could transfer providers mid year such that you could put

1.5K into bank A in the first half of year 1, then transfer the 1.5k (with interest) to bank B and put in the additional 1.5k?

In that case you would in effect have put £3k into B and nothing into A, wouldn't you? :-)

"Ronald Raygun" wrote.....

If in year 3, you saved another 3K in bank B, could you also transfer your funds from bank A (inc interest) or would that replace your 3Kpa allowance?

Yes, you could save the 3k in bank B in year 3 & then transfer funds from bank A (assuming bank B will accept the transfer - not all do) HTH Vic

"Vic" wrote

What about putting 3K in year 3 into bank B, then (almost immediately) transferring 1.5K from bank B into bank A?

[To give same effect as having contributed 1.5K to each of banks A & B, as OP desired ...]

Bitstring , from the wonderful person Tim said

You can only transfer a whole year's (or 'whole year to date's) ISA.

Yes you could, transfers don't count as putting money in.