I might have missed the answer but I can’t see it scrolling through. I opened a monzo ISA last year. If I opened another seperately this year in monzo…how would they know which 1 to transfer out?
Or is it not possible to have multiple cash ISAs with monzo?
If ? do you not know ? -
different ISAs or adding to the existing ISA ? ie both with Oaknorth or one with Oaknorth and one with another ISA provider offered by Monzo ?
The virgin form lets you transfer out this years ISA if thats what you want to do
I don’t know how monzo handles it…that’s why I asked?
I only have 1 ISA which I have just requested to transfer out to another provider following the instructions in the help file and above so no issue with that.
My question was theoretical
If I had multiple ISAs with monzo. The standard process is for them to have unique account numbers which i give to the new provider. As monzo doesn’t provide this - how do they know which ISA to transfer? I was suggesting maybe monzo don’t allow this as that would mean it isn’t needed.
Theoretically you would have yearly ISAs, as you can only invest in one cash ISA a year , so two probably at most , this years and last years .
well …theoritically if you invested in the Oaknorth ISA for two years you would have to do a full transfer so wouldn’t matter
If theoretically you had two different ISA providers , ie Oaknorth last year and another “provider” for this year you would …for Virgin …tick the box 3 that says transfer this years ISA , that would separate them , but then you would say I only wanted to transfer last years ISA I suppose 
, because I only want last years ISA to get a better interest rate , thats why you want to theoretically transfer it , right ? once actioned you could then theoretically transfer the other remaining ISA into the better ISA rate by ticking the box 1 transfer my ISA …lol all this is if you want to transfer it to Virgin theoretically - other providers might have different boxes to tick , unless they all have the same process ???
If theoretically you wanted to transfer the first years ISA to a better rate and keep this years ISA in Monzo on a worse rate , I would either fill in the amount you wanted to transfer which would relate to that years ISA or get in touch with in app chat and ask them how to differentiate the two ISAs
Yeah. That all sounds quite messy if that’s how it would work. It seems that unique account numbers would be sensible if multiple distinct ISA accounts are possible in monzo
convoluted Id say, lucky you dont have two ISAs with Monzo
Yeh as I bank fully with monzo for current, joint, pots, etc. I expected to end up having more than 1 at some point. I’ll now make sure not to and use somewhere else instead
