Holly Mckay
Holly MackayFounder and CEO
Avatar

Subscribe Now

Free of Charge

Avatar
    • Home • Advice • Common questions

    I opened a Virgin Cash ISA but did not fund within 30 days limit. Am I still OK to open another one before 6th April 2023?

    30 January 2023

    Question by IAN

    I opened a Virgin Cash ISA but did not fund within 30 days limit so haven't paid any money into an ISA this year. Am I still OK to open another one before 6th April 2023?

    Answered by

    Hi Ian

    I've had a look at Virgin's website and it looks like you were applying for a 'limited issue account' which has now been replaced with a new issue, possibly with a different interest rate, hence the 30 day rule. I would give Virgin a ring to see if you can place the money in the latest issue as the rules are ambiguous around opening a cash ISA but not paying in, i.e. some companies say 'you can only OPEN one ISA per tax year' and others say 'you can only PAY INTO one ISA per tax year'.

    I hope that helps!
    Rachel

    Join Boring Money today!

    Do you want down-to-earth investing tips, jargon-free guides, bite-sized courses, and more? Join Boring Money for free to start making better choices with your money today!

    Already have an account? Login

    Important stuffHolly and the team have worked in the finance industry for many years but we are not regulated to give you personal financial advice. For every story on this website about a good investment, or something which went up by 10% or made someone £200, we could also share a story about a bad investment, something which fell in value or lost someone £200. We aim to provide general information and pointers – and btw we are totally agnostic about which providers you might pick – but if you have complex affairs, want personalised advice or need specific recommendations, please look at advice pages and see if regulated digital or traditional financial advice would be the best solution for your needs. Boring Money Ltd is a limited company registered in England and Wales under registration number 09459832 and we have our registered office at 10 Lower Thames Street, London, England, EC3R 6AF.
    Risk warningAs is always the case with investing, your capital is at risk. The value of your portfolio can go down as well as up and you may get back less than you invest. Tax treatment depends on your individual circumstances and may change in the future.
    Boring Money Ltd is a limited company registered in England and Wales under registration number 09459832 and we have our registered office at 10 Lower Thames Street, London, England, EC3R 6AF.
    |

    We use cookies

    You will see cookie information on different websites and regulation means that we need to ask your permission to use them. We use cookies to improve our website, for analysis of our visitor data, to show personalised content and to give you a great website experience. For more information about the cookies we use open the settings.