Signing up to a Direct Debit for an IF ISA account

Moniker

Not sure if this is the right forum, but I recently applied for a cash ISA with Intelligent Finance - following a recommendation here. The package of forms came in the post including a direct debit mandate. IF say that unless I sign this DD mandate they cannot operate my ISA account even if I don't want to pay in regular amounts (I don't). I have my current account with the Nationwide and they are happy to make(online) payments to external accounts if they are provided with an account number and a sort code. We have done this with my husband's cash ISA which is with another provider. My problem is that I don't trust banks really and don't want to set up a DD which I won't use but which they could use to request money from my current account. I phoned IF today and they said that it has never been a problem and no one has ever had money transferred without their consent. Am I being over-sensitive? What do people think? Any advice welcome.

Thanks

Moniker

alastair_h

Hi, there is a dedicated sub board for ISA's, see link http://forums.moneysavingexpert.com/forumdisplay.html?f=18

It is a fairly normal set up to allow payments to be made into and out of the accounts, it also enables them to verify your identity. I have done this and then paid in by standing order to an account for example and never had any problems.

Don't worry I think you may be being a little over cautious in this case - not a bad thing with banks and their reputations being so poor, however in this case I think you're fine. It's about the only things they haven't managed to stuff up for me