How Many Isa's Can One Person Have

A question about : How Many Isa's Can One Person Have

I'm very confused at the number of ISA's one person can have, i thought it was just one putting in up to the maximum allowance each year, but my in laws inform me they have two each, two with 3000 and two with 3600, all with barclays! surely they should only have one each with 6600 then add up to the max in next year, i would be gratefull if someone could help as they are both in their 80's and i dont want them to start worrying, many thanks

Best answers:

• Each person is allowed one cash ISA per year.
  You have the choice to open a new one each tax year, or keep many years worth of contributions all in the same ISA (or some option in the middle of the two)
• im assuming they had last years 3k fixed for a term so couldnt add to it this year. As a result they had to open a new ISA to fund for this year.
• So the fact that I have an ISA which I opened about 6 years ago which has about £60 in it(!!) means I can't open another one till next year? As I have contributed to it this year.
  I am currently sorting my finances out which have been woeful, but I am now debt free and ready to start saving. Will I have to wait till next year to open another ISA. My current one is with BoS with a rate of 3.06%. Shocking!!
  Wait till April, check MSE for the best rate, deposit my allowance and repeat year after year?
• I recently joined RBS and they opened up 2 ISA's for me one was a omline/telephone one and the other was the standrad one the government has given every person , i can stick 3600 a year i think in both, with no penaltys for takin any money out, dunno if that helps or anything lol
• you can have as many as you want. just as long as the inland revenue don't find out
• Ok so i got my 2 ISA forms through today from RBS , one is for this telephone/internet banking ISA and the other is a Cash ISA, i only wanna have the one cause i dont want locked up in the bounders lol whats the best one to keep?
• I dont even no what the means lol so baby boomer do u think im better with the one or both, i just want sumthing to put my tax credits into so i can pay an over draft or credit card off
• It is called " TELEPHONE SAVER account with RBA "
• Chrissybh0y, that's not an ISA, it's just an ordinary savings account. A pretty lousy one at that.
  Link.