Would someone who knows about these things please clarify this for me?
I have opened a small ISA account earlier this month and have made arrangements with the new provider to transfer funds from another ISA account (different provider) into the new account.
So far, so good, but.....
I have another fairly large ISA, with a 3rd provider which is due to mature in a couple of weeks.
I don't want to transfer that money as well into the new account as it will take me over the FCSA protection limit.
So, my question is, can I open another ISA using just the transferred money?
I understand (I think!), that I cannot put more money into another ISA this financial year but transfers in, don't count.
But, how do I transfer in to something which doesn't yet exist?
Can I open a new ISA with £0?