whats the quickest way to get money into my abbey postal isa

blinko

whats the quickest way to get money into my abbey postal isa ? does anyone here know ? any help would be greatly appreciated thanks

Walshy

Although Abbey say that the account is operated by post (cheques etc), it is possible to make a BACS transfer from your bank account to the ISA, quoting your abbey sortcode and account number.

p3gg

I've paid into mine using both BACS from my bank account and third-party cheques sent in by post. Very little difference in terms of how long the money takes to hit your ISA account (3-4 working days), so as well to use the BACS option whenever possible since Abbey don't provide prepaid envelopes for deposits.

If making a new BACS instruction or setting up a Standing Order, do double check that you're putting in the correct sort code for your ISA: I only say this because when I opened mine in my local Abbey branch last summer I was told an incorrect sort code by the member of staff (fortunately I discovered the error before anything went wrong).

Walletwatch

Both me and my wife have Abbey Postal ISAs. I was opening a spate of accounts there all at a time, including the ISA, the regular saver, and a joint current account. The guy at the branch took the money I wanted to deposit over the counter, and immediately processed it for me, and gave me a transaction slip. Have also managed to agree with him that he'll do the same for me this tax year ;-)

Try your luck at the Abbey branch, they might just do it for you online...

Twmble

p3gg wrote:

I've paid into mine using both BACS from my bank account and third-party cheques sent in by post. Very little difference in terms of how long the money takes to hit your ISA account (3-4 working days), so as well to use the BACS option whenever possible since Abbey don't provide prepaid envelopes for deposits.

My house is awash with Abbey PrePaid envelopes for the Postal ISA ... I get at least one everytime I make a postal transaction or get a statement.

I have used standing order to put money into this ISA - cheques have taken a bit longer, and I think SO is more reliable.

Twmble

blinko

thanks guys i shall be BACSing my money into my ISA hopefully and if that fails cheque ing it thanks

p3gg

Twmble wrote:

My house is awash with Abbey PrePaid envelopes for the Postal ISA

Sorry you are quite right, they are prepaid. I was getting confused in my head with another provider evidently.

bonzer

Walshy wrote:

Although Abbey say that the account is operated by post (cheques etc), it is possible to make a BACS transfer from your bank account to the ISA, quoting your abbey sortcode and account number.

I called up to ask about this today and they told me that you must pay in by post as it is a condition of the ISA. You cannot pay in by BACS. Were they talking rubbish or have the people who paid in by BACS just got away with it somehow?

Thanks

Bonzer

jimclark1967

bonzer wrote:

I called up to ask about this today and they told me that you must pay in by post as it is a condition of the ISA. You cannot pay in by BACS. Were they talking rubbish or have the people who paid in by BACS just got away with it somehow?

Thanks

Bonzer

Well I've been getting away with it for 2 years!

When I originally phoned up to ask if BACS was OK I was told yes. I can see how not letting you pay in at a branch keeps their costs down but BACS is surely even less hassle for them than post

Methinks Abbey staff aren't all singing from the same hymnsheet

davidcampbell

missed this first time round.

postal isa should only allow either postal deposits by cheque or postal requests for bacs payments to be done.

is this what you guys mean you are doing?

or are you just bacs' ing it over directly?


jim do you have a postal isa or normal cash isa? you mention 2 years - may be wrong but i dont think we have had a postal isa for that long?

DC

jimclark1967

davidcampbell wrote:

missed this first time round.

postal isa should only allow either postal deposits by cheque or postal requests for bacs payments to be done.

is this what you guys mean you are doing?

or are you just bacs' ing it over directly?
DC

I've been BACS'ing it directly - Got my latest statement this week, appears as "Bank Giro Credit" for the £3000 i paid at end of February.

Seems a bit odd that they'd only allow postal requests for a BACS transfer to be done - I suppose it means you can't try paying more than £3000 in a year

Are we likely to hit problems with Abbey in future, even sticking to the correct subscription limits?

davidcampbell wrote:

jim do you have a postal isa or normal cash isa? you mention 2 years - may be wrong but i dont think we have had a postal isa for that long?
DC

It's a Postal ISA I have, opened in May 2003 so not quite 2 years but almost! At the time base rates were 3.75% and the Postal ISA was 4.3% on the top interest tier so was the best around.

The single good rate on all balances came along 12 months later, just as I was thinking of transferring to Intelligent Finance - glad I didn't! :rotfl: