Can I set up an ISA without a chequebook??

innovate

I have, over the last few years, successfully applied for ISAs with NI, Lloyds, Santander and Nationwide without needing a chequebook.

le_loup

I know it's possible with some but I was asked why it was useful.
Try opening an Investment Trust savings scheme without a cheque!

Ultrasonic

le_loup wrote: »

Well, it proves you have an account in your name and that the money is coming from that account.

Is the same not true if someone sends an electronic payment? What I'm getting at is the only information of the sender of an electronic payment the sort code and account number, or is the name of the account holder also available to the recipient? I ask as I genuinely don't know.

le_loup

No name.
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wannabedebtfreeby30

It was more hassle having to go into branch than doing it online but ultimately I got my ISA! Just had to present my passport and driving license to prove who I was and fill out a form - very quick and easy. The nice lady at Santander gave me my sort code and account number and I can now just transfer it from my basic account to my ISA account using internet banking. Awesome.

Someone suggested not going with Santander. But ultimately nobody could beat the interest rate so I went for it!! 2 years fixed at 4%. Whilst I was in town with all the bumpf I opened a 'regular' savings account too so I can save up to full year's amount of £5,640 to put in my ISA next year (or a new one).

Thanks for all the advice everyone, much appreciated :-)

Ultrasonic

wannabedebtfreeby30 wrote: »

Whilst I was in town with all the bumpf I opened a 'regular' savings account too so I can save up to full year's amount of £5,640 to put in my ISA next year (or a new one).

Was that other savings account an eSaver with Santander? I think that would be their best paying savings account to save up for next year, but I wasn't sure this could be opened in branch?