multiple ISA's

A question about : multiple ISA's

Please excuse what might be a really stupid question, but are you allowed to have ISA's with different companies?

Best answers:

• Yes, only money from the current tax year must be held together with the same provider (and even then you can have separate providers for cash and S&S ISAs).
• Yes you are but in any one tax year, you are only allowed to put new money into 1 cash ISA and 1 S&S ISA. You are, in theory at least, also allowed to transfer your ISAs any time you like.
  It might be easier if you ask what you had specifically in mind.
• We want to start an ISA for our 2 grandsons and any other grandchildren that may come along, but not in their individual names. It would be in my name, I would be able to withdraw money for their needs as and when (for really important things eg tuition fees).
  It would be stipulated in our wills that all monies in this particular Isa would be shared between however many there are at that time. (Not that I'm, hopefully, going anywhere for a long time).
• Sounds like you want some sort of a trust. I don't think an ISA can be held in trust.
• 12 years ago my 1st grandson was born and his great grandmother decided to put Ј10,000 in a trust for him and all future great-grandchildren. We went the correct (we thought) way about this by contacting the bank and telling them what exactly she wanted. To cut a long story short I have just found out that this 'bond' is a glorified life insurance product that has now made under Ј2,000 in 12 years. No extra money was added and none has been taken out.
  There was over Ј12,000 in the bond in 2009 and this was supposed to be very low risk.
  My step-mother died last year and I am the sole remaining trustee for the account. They made it a joint life policy for her and my grandson so any death benefits would be paid out when grandson died.
  Step-mum didn't believe in life insurance and she and my father never had any policies.
  So, basically, she paid Ј10,000 for a life policy to cover, at that time, an 83 yr old and a 1 month old!!
  So no more trusts for me, hence the question regarding ISA's.
  Thanks for all the answers.
• Why not look at a child's Isa. I think they have good rates.
• It will not be for just 1 child, but cover the 2 existing and any others that come along.
• I think you just need to have 2 child isas.
  As for a 3rd you either find some money when it comes along or tough luck on them! Or give the 3rd cash in your will.
  They won't be able to get their hands on it until they are a sensible age (if this concerns you) or hide it from them so they don't know about it.
  Not too hidden though.
• Most providers don't allow splitting ISA allowance between easy-access and fixed rate.
  Refer to this article to see who allows splitting ISA allowance between easy-access and fixed rate - https://www.moneysavingexpert.com/new...w-to-open-both