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What is a New ISA (NISA)?

From 1 July 2014 all ISAs, new and existing, became New ISAs (NISAs). The Government changed the name to reflect the significantly increased limits and flexibility available to account holders. However, in practical usage within banking and financial services, the ‘New ISA’ or ‘NISA’ name never caught on. Whilst, technically, ISAs are now, in fact, NISAs, they are still more commonly referred to as ISAs.

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