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What are the rules around ISA allowances, and can I have more than one ISA?
What are the rules around ISA allowances, and can I have more than one ISA?

A summary of the rules around holding more than one ISA.

Alex avatar
Written by Alex
Updated over 4 months ago

Yes! You’re able to open and deposit into more than one ISA in the same tax year. This includes paying into more than one ISA of the same type (e.g. paying into two Cash ISAs in the same tax year, but excludes paying into more than one Lifetime ISA, as this is limited to one per tax year). Please note that your annual £20,000 contribution allowance is shared across all of the ISAs that you have open.

You can only open one ISA of each type at Moneybox, however we do offer a Cash ISA, Stocks & Shares ISA, and a LISA (Cash or Stocks & Shares), and you can open all three of these with us should you wish.

If you have an existing ISA you'd like to transfer to Moneybox, you can request this in Settings > Transfer in an existing ISA.

Once you’ve submitted your details, most transfers will typically complete within 3 weeks, with Cash ISA transfers typically completing within 15 days.

Please note that all transfers in must be processed digitally. You can find out more about which providers are supported here.

Additionally, if you’re looking to transfer in an ISA or Lifetime ISA from Foresters Financial, please get in touch via the in-app chat, or by emailing support@moneyboxapp.com, and our team can provide you with a transfer in form – please note that this form will need to be printed out and signed, as this provider does not accept digital signatures.

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