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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.
More from the same category of FAQs:
- Can I transfer a Child Trust Fund to a Junior Cash ISA?
- How many cash ISAs can I open with Triodos Bank?
- Can I change my existing Cash ISA into an Online Cash ISA?
- Can I change an existing Triodos cash ISA into a Triodos Fixed Rate Cash ISA?
- Can I change a Triodos Fixed Rate Cash ISA into another type of Triodos cash ISA?