You can now have as many Cash ISAs as you like, as long as the amount you deposit across all your ISAs doesn’t exceed the £20,000 per tax year ISA allowance, thanks to new rules which came into effect in April 2024.

Apart from Lifetime ISAs, you can pay into multiple ISAs of the same type in the same tax year. So if you already have a Cash ISA and you’ve spotted another Cash ISA which offers a better interest rate, you could open a second account or transfer your existing one to the new provider.

Remember, you’ll still be restricted by how much you can save by the £20,000 ISA annual allowance. If you’re able to save more than the annual ISA limit, any savings or investments held outside of your ISAs will be taxed.