Cash ISA - funding by Direct Debit

NoodleDoodleMan

Apologies if not posted in the appropriate forum.

Is there a Cash ISA for 2024/25 that will accept incoming monthly Direct Debit credited from an external bank current account ?

I believe Nutmeg allows this - just wondered if there were others ?

Mark_d

I wasn't aware of any savings accounts that took payment by direct debit.  Why not just open a normal cash ISA and pay by standing order?

400ixl

I would have thought it was standing order rather than direct debit. Same outcome really.

I believe Vanguard does this as well.

Veteransaver

Why not just fund it manually, or use standing order?

dunstonh

Is there a Cash ISA for 2024/25 that will accept incoming monthly Direct Debit credited from an external bank current account ?

Most will use standing order rather than direct debit.  direct debit is more common with S&S ISAs than cash ISAs.

ColdIron

I didn't think Nutmeg offered cash ISAs, even their LISA is stocks and shares only

It's quite common to have DDs on stocks and shares ISAs but I can't think of any cash ones that allow it. As above just use a standing order

NoodleDoodleMan

I need to use DDs to satisfy switching criteria for a new bank account, hence not seeking SOs.

Nutmeg do Cash ISAs, I was in contact earlier today.

eskbanker

NoodleDoodleMan said:

Nutmeg do Cash ISAs, I was in contact earlier today.

There's no cash ISA product listed at https://www.nutmeg.com/isas or on their main product menu - do you have a link for the one that they've mentioned?

Here at Nutmeg, we don’t offer cash ISAs.

https://www.nutmeg.com/isas/isa-allowance-limits-tax-year-end-dates

NoodleDoodleMan

Indeed - I'll need to review,

A Stocks and Shares would suit.

Well spotted.

eskbanker

NoodleDoodleMan said:

Indeed - I'll need to review,

A Stocks and Shares would suit.

Well spotted.

Up to you obviously, but I'd suggest that this sounds like the tail wagging the dog if you're considering using a S&S ISA instead of a cash one solely on the basis that doing so fulfils a requirement for an extra direct debit mandate!

There is a thread somewhere about potential options when seeking extra DDs for the purposes of satisfying such requirements, will have a rummage around for it....

Edit: https://forums.moneysavingexpert.com/discussion/6445857/savings-investment-dds-and-debit-card-deposits-an-updated-list/p1

ColdIron

NoodleDoodleMan said:

I need to use DDs to satisfy switching criteria for a new bank account, hence not seeking SOs.

Credit card DDs? Bills and mobiles?