Can I pay a cheque straight into my ISA?

I'm due a refund cheque, from a utility company.

Can I pay it straight into my ISA, or will I have to pay it into my bank account, wait for it to clear, then transfer it to my ISA?

Comments

  • Archi_Bald
    Archi_Bald Posts: 9,681
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    the latter will definitely work.
  • ERICS_MUM
    ERICS_MUM Posts: 3,579
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    through your bank account first.
  • innovate
    innovate Posts: 16,217
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    The terms and conditions of your ISA will specify how money can be deposited. Where deposit by cheque will be allowed, the clearing will take exactly the same amount of time as if you paid the cheque into a current account first.
  • innovate wrote: »
    Where deposit by cheque will be allowed, the clearing will take exactly the same amount of time as if you paid the cheque into a current account first.

    I understand that but, once I've paid the cheque into the current account, I won't be able get to the bank, to move it, for about 8 to 10 days.
  • lisyloo
    lisyloo Posts: 29,583
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    but, once I've paid the cheque into the current account, I won't be able get to the bank, to move it, for about 8 to 10 days
    Have you thought about using internet banking?
    Most of us can move money about between accounts instantly.
    You should definitely consider this especially if you can't get to the bank easily.
  • le_loup
    le_loup Posts: 4,047 Forumite
    lisyloo wrote: »
    Have you thought about using internet banking?
    Or even .. dada .. send the ISA holder your personal cheque .. dada .. by post!
    Wow, we live in a revolutionary world.
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