You can have multiple Cash ISAs at the same time, but you can only pay into one Cash ISA in any single tax year. The annual ISA allowance for the 2025/2026 tax year is £20,000 in total, which can be spread across different types of ISAs (such as Cash ISA, Stocks and Shares ISA, Lifetime ISA, and Innovative Finance ISA) but you cannot exceed the overall limit of £20,000. For example, you could put the entire £20,000 into a Cash ISA if you wish, or split it between a Cash ISA and other ISA types. You are allowed to open and hold more than one Cash ISA account, but you cannot contribute to more than one Cash ISA within the same year without transferring funds from one to another. The Lifetime ISA has a separate maximum contribution limit of £4,000 per year. In summary:

• No limit on how many Cash ISAs you can hold.
• You can pay into only one Cash ISA per tax year.
• Annual total ISA contribution limit is £20,000 (excluding Junior ISAs).
• Contributions can be spread across different ISA types within the yearly allowance.

These rules apply for the tax year running from April 6, 2025, to April 5, 2026.