Virgin Money 4.25% fixed ISA

doire_2

Can anyone tell me if you can pay money into this account at any time?
Or maybe I misunderstood what "this is a non paying account" means?

Thanks

Dazed_and_C0nfused

Do you mean this specific one?

If so it seems quite clear.

https://uk.virginmoney.com/savings/products/2_year_fixed_rate_cash_e_isa_issue_529/

doire_2

Just wasnt sure about the non paying account thing. However reading the forum I think I'll hold off until seeing what the BoE do in 2 weeks time

lohr500

Dazed_and_C0nfused said:

Do you mean this specific one?

If so it seems quite clear.

https://uk.virginmoney.com/savings/products/2_year_fixed_rate_cash_e_isa_issue_529/

The OP's question wasn't unreasonable and I'm not sure your reply was particularly helpful.

A non payment account means it is not an account designed to make payments out of, as would be the case with say a current account. E.g. no direct debits, standing orders or other payments can be made from the account.

It wouldn't stop you adding more money into the account at a later date, subject to the maximum £20k per financial year.

Dazed_and_C0nfused

lohr500 said:

Dazed_and_C0nfused said:

Do you mean this specific one?

If so it seems quite clear.

https://uk.virginmoney.com/savings/products/2_year_fixed_rate_cash_e_isa_issue_529/

The OP's question wasn't unreasonable and I'm not sure your reply was particularly helpful.

A non payment account means it is not an account designed to make payments out of, as would be the case with say a current account. E.g. no direct debits, standing orders or other payments can be made from the account.

It wouldn't stop you adding more money into the account at a later date, subject to the maximum £20k per financial year.

Yet it clearly states,

You have to put money into your account within 30 days

So "at a later date" is somewhat restricted.

dcs34

Dazed_and_C0nfused said:

lohr500 said:

Dazed_and_C0nfused said:

Do you mean this specific one?

If so it seems quite clear.

https://uk.virginmoney.com/savings/products/2_year_fixed_rate_cash_e_isa_issue_529/

The OP's question wasn't unreasonable and I'm not sure your reply was particularly helpful.

A non payment account means it is not an account designed to make payments out of, as would be the case with say a current account. E.g. no direct debits, standing orders or other payments can be made from the account.

It wouldn't stop you adding more money into the account at a later date, subject to the maximum £20k per financial year.

Yet it clearly states,

You have to put money into your account within 30 days

So "at a later date" is somewhat restricted.

It says "each tax year you can pay in up to your annual tax-free allowance" but then says "if you wish to add to your ISA every tax year this product will not be suitable". VM's copy/paste of standard ISA terms has made it confusing.

savit4l8er

You can pay in up to £20k to standard ISA, you are looking at a fixed term ISA which allows 30 days only for funds to be credited.  You cannot add more funds to it during the term, hence they  warn you. You can open another ISA the next tax year and pay another £20k into that and if it's easy access, another £20k the following tax year.