Halifax clarifies rules on Individual Savings Accounts and Kids' Monthly Saver limits

Halifax has clarified its rules regarding Individual Savings Accounts (ISAs) after a customer raised concerns about reactivating a deactivated account. The bank confirmed that customers can only pay into one cash ISA with Halifax each tax year but can contribute to other types of ISAs. The bank explained that reactivating an existing ISA is considered "reopening the ISA to fund" and does not incur penalties. Customers can reactivate their accounts without affecting new ISAs they have opened. Additionally, Halifax addressed questions about its Kids' Monthly Saver account, stating that customers must save a minimum of £10 and a maximum of £100 per month. They can also make bank transfers to top up their savings, as long as the total does not exceed the monthly limit.