Kent reliance new isa transfer

Isoheaps1

Hi I've applied for an isa account with kent reliance and they have emailed me an account number and sort code along with a reference to make payment to. Is this normal procedure? Whenever I've opened an account elsewhere I've been give my own account number and sort code. And given emails are easily intercepted, spoofed and edited it doesn't seem the most secure method. Can anyone clarify?

Thanks

Ian

Albermarle

You may wish to check this thread ( just next to yours)
Kent Reliance - are they really this bad? — MoneySavingExpert Forum

refluxer

Isoheaps1 said:

Hi I've applied for an isa account with kent reliance and they have emailed me an account number and sort code along with a reference to make payment to. Is this normal procedure? Whenever I've opened an account elsewhere I've been give my own account number and sort code. And given emails are easily intercepted, spoofed and edited it doesn't seem the most secure method. Can anyone clarify?

Yes, that's common - they'll have their own account at a 'clearing bank' which you pay into and then the payment reference ensures the money reaches your account. Ford Money and Paragon (and many other banks) operate in the same way, as do many building societies.

A bank emailing you clear instructions of how to pay into the account also goes hand-in-hand with opening an online account, which is why you should always take the security of your email account seriously. Having two-step verification enabled is an absolute must.

isasmurf

Most banks and building societies will have the details on their website to check against.

https://www.kentreliance.co.uk/support/paying-money-in