Activating and using a Shares ISA 2016/17 Allowance 30 April 2016 at 5:24PM in Savings & investments 4 replies 610 views

ClarkeKent

I have a SIPP with BestInvest which has a dormant personal investment account with Shares ISA options.

To activate my 2016/17 Shares ISA allowance do I just open an account with zero funds or does it have to be opened with the full amount you are putting into it? Or can I open it with a £1 and drip feed funds into it to buy shares with.

I assume it will be the same as all other Share ISA accounts so would be interested to hear how others use Share ISAs

AnotherJoe

It's never going to require the full amount putting in ! Why would you open it with £1 and then drip feed? Why not open it with your first drip feed ? (I'm hoping you aren't going to drip feed £1 a time)

ClarkeKent

What I mean is. If I plan on putting in £4k into a Shares ISA, do I need to put the £4k in right away or can I just activate the account with say £1 and then drip the rest of the £3999 in as I earn it i perhaps 4 installments.

bigfreddiel

Just open an account and pay in when ever you feel like. fj

Eco_Miser

I don't know the particular platform, but there's a good chance the account is already open, just waiting for you to pay in your first installment, and then buy something.