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LDN1234
Posts: 1 Newbie
Hi everyone,
Im new to this, also i have never had ISA account.
I was wondering.. might be a stupid question but i will ask. Can i use ISA as a second bank account? I mean will i be able to receive salary on it?
Im new to this, also i have never had ISA account.
I was wondering.. might be a stupid question but i will ask. Can i use ISA as a second bank account? I mean will i be able to receive salary on it?
0
Comments
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Very unlikely that an ISA would be able to receive BACS payments from third parties but it would be a highly unconventional thing to do anyway! If you want a second current account then open one, and keep ISAs for saving....0
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Also if you are a basic rate taxpayer and unlikely to receive more than £1000 in interest this year or in subsequent years , then you probably have no need of an ISA , even as a savings account . You can earn £1000 in interest tax free anyway and non ISA accounts tend to have better interest rates than ISA's.1
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If you want a second bank account you could get far better interest rates on that than an ISA. Virgin for example pay 2% on their account to £1000Remember the saying: if it looks too good to be true it almost certainly is.0
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