Sending a large ISA deposit

ruelle

Hello everyone, I've opened up a new fixed rate cash ISA which only allows you to make one cash deposit within a certain amount of time. I'd like to put in the max for this tax year but I'm nervous about sending over such a large payment without testing it first. If I go to the bank to ask them to make the payment, does that give me more protection than if I were to do it online? 

refluxer

Which ISA provider insists on you making only one, single deposit payment, out of interest ? Depending on the provider (and whether they are a member of the Confirmation of Payee scheme), you may get confirmation that the name matches the account number when you attempt to make the payment. 

Olinda99

If they accept cheques you could do it that way.

ruelle

It's Furness Building Society. Sadly I don't have a chequebook! 

ruelle

I know it's mad they only let you do one payment! 

Band7

You get slightly better rates at other ISA providers
https://moneyfacts.co.uk/isa/2-year-fixed-rate-isas/?quick-links-first=false

ruelle

Thanks but I'm actually getting their 5 year fix at 4.31 which they've since pulled from the market.

rawy

I used a cheque with Cumberland BS, just requested one from counter at Santander as I didn't have a chequebook either. Was far less stressful.

Rawy

xylophone

https://www.furnessbs.co.uk/savings/everyday-savings

Presumably you have already provided all necessary identification and have internet access?

Would you feel more comfortable if you opened an instant access account and made a small deposit by faster payment so that you knew that all details were correct?

You could then transfer your ISA money to this account and then internally transfer the whole to the ISA?