Wages being paid into ISA

I have two wages and both are paid directly into my ISA and have been for a few years, and I move spending money out - is this completely the wrong way about it and would look that way if I ever needed to borrow/finance?
Could I pay one wage into current account and one into ISA?

Comments

  • MEM62
    MEM62 Posts: 4,672
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    Do your two salaries total less than £20K?  
  • MEM62 said:
    Do your two salaries total less than £20K?  
    Yes they are.
  • Is it a Flexible ISA?  If so it doesn't matter how much you deposit provided that over the course of the tax year you never find yourself having added more than £20k to what you had on 5th April.  If so, this seems perfectly sensible.  Most people have current accounts so they can pay bills by direct debit or standing order or bank transfer (or even write the odd cheque) - but if you don't need to do any of those then why not make the most interest you can from your money as it arrives.

    I have no idea how this would look if you needed to borrow/finance but to me it looks as if you are financially astute so should be a good person to lend to.  
    Reed
  • wjr4
    wjr4 Posts: 1,104
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    How have you managed to get your wages to pay into an ISA and not a current account? 
    I am an Independent Financial Adviser (IFA). Any posts on here are for information and discussion purposes only and should not be seen as financial advice.
  • jimjames
    jimjames Posts: 17,498
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    wjr4 said:
    How have you managed to get your wages to pay into an ISA and not a current account? 
    As long as you provide sort code & account it shouldn't matter what type of account, in fact the sender might not even know the type of account
    Remember the saying: if it looks too good to be true it almost certainly is.
  • Albermarle
    Albermarle Posts: 21,165
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    Hopefully some of it is finding its way into a pension .
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