Basic ISA question

[SwedishEdith]

I have two cash ISAs. One is coming to the end of its fixed rate in a few weeks (June) and then another one in July.

For the June one, I have time to choose to move it to another account or else it will be moved automatically to another ISA account by the same bank

If I move this to a new account in June, can I add my July maturing ISA to it in July? Also, can I still add new money within the ISA limits to any new account as well?

I have a similar question. I have £80k in a stocks and shares isa can I transfer the full amount to my cash ISA with a bank that has £14k in it?

As long as you transfer the money in the correct way you will be able to combine what you have saved previously and still use your allowance.

you will need to request the transfer from the new ISA rather than just moving it out of the old and into the new.

Thanks. I can see it's pretty straightforward for ISA no 1 as I've done that before. But is it usual I can still transfer in a second ISA in the same year? And, can I still add funds to the same ISA for this tax year?

Essentially, I'd like just one ISA and want to know if consolidating a few is straightforward to do when they're not maturing at the same time.

You can add £20000 to any Isa in the tax year. I put mine in April. So I can't put anything in now until April 2026.
The £40000 you already have in Isas will stay in the Isa bracket so will remain tax free .
You may have to contact your bank though in the month before it matures to make sure you will still get the best Isa interest rate Otherwise instead of it gaining approximately 4% interest the following year it may get significantly less.
You can move the £40000 into one Isa if it's easier for you to manage but that's up to you and it doesn't make a difference if you have one Isa or 10 Isas.

@LF11 . Remember not to go over £85000 in one bank as that the maximum you will get back if the bank goes bust

I've got my Isas spread across different banks but that's just my way. But you can consolidate them.

Thanks. So adding new money should be straightforward.

I suppose I'm thinking if I move ISA no 1 to the best rate I can find, I'd rather move ISA no 2 to that a month later as well to make them neater to manage. But otoh, if the rate drops after 12 months, the second ISA will only get that rate for 11 months.

And some ISAs can be funded by your new £20k but won't accept a transfer in of an existing ISA. But yes in principle you could transfer your existing ISAs into one pot then top up that pot by up to £2Ok this year, subject to the rules of the new cash ISA.

I can see myself doing this as the first one wants me to make a decision quickly about what to do next otherwise it moves to a low rate. The deadlines always catch me out and it ends up being easier to keep at the same bank and they're new higher rate.

Very good point. Thanks

If you’re looking for a new isa, look at trading 212. It’s flexible, you can do transfers and the rate at the moment is 4.86%. The interest also gets added daily 😀

Will take a look, thanks

As long as the isa accepts transfers in. Not all the top ones do. And as others have said use the official isa transfer process rather than withdrawal and pay in

Fixed cash ISAs can have time limits for when you can transfer the money in the easy access ones don't.
Often the time limit is 30days so you might not have the window you need.
You are now not limited to opening one ISA product a year so what you could do is open an easy access cash ISA for the first lot of money and then when the second lot is released open a fixed account and move it all into one account.

Yes, I think it's the 30 day window that makes things not straightforward. Will take a look at your suggestion, thanks.