An instant way to add cash on Vanguard Investing on SIIP Account

adindas

I am about to add cash on MY SIIP to use my SIIP allowance this tax year. What is an instant way to add cash on Vanguard Investing on SIIP Account. I am already aware about using Debit card to meet Halifax Reward requirement.

For the future use, not necessarily instant, is there any better way of doing it.

For instance to connect it with cashback, etc. I tried using Chase, I did not get cashback.

I just notice they they do not allow people to pay with Credit card, so cashback Credit Card will not work.

eskbanker

There don't appear to be any instant options:

For lump sum payments you can pay by debit card or bank transfer and for regular payments you can set up a Direct Debit.

It takes 1 working day for debit card payments to clear, and the payment limit is £99,999.

If you want to pay in by bank transfer the minimum amount is £50,000. It usually takes 48 hours to clear. We will send you a message once the transaction is complete. 

We do not accept payments by:

• credit card
  
  
• cheque
  
  
• standing order
  
  
• Direct Debits from business accounts

https://www.vanguardinvestor.co.uk/need-help/answer/what-payment-methods-can-i-use-to-invest-or-add-cash

jimjames

Not sure what you mean by instant. I've added money to my Vanguard account today using a debit card and it appeared instantly and is part of this years tax allowance. It might take 24 hours to clear but the money counts when it is added not when it clears.

adindas

jimjames said:

Not sure what you mean by instant. I've added money to my Vanguard account today using a debit card and it appeared instantly and is part of this years tax allowance. It might take 24 hours to clear but the money counts when it is added not when it clears.

I probably need to formulate it better. I know you could use debit card and it is instantly credited to your SIIP ac. I have been using Halifax regularly to meet the spending requirement to get £5 cashback. But After exhausting Halifax is there any better way of doing it. I mention about instant as today is the last day to benefit from taxation.

But for the future is there anyway to get cashback, no need to be instants in this case. Cashback credit card is out of the equation.

eskbanker

adindas said:

jimjames said:

Not sure what you mean by instant. I've added money to my Vanguard account today using a debit card and it appeared instantly and is part of this years tax allowance. It might take 24 hours to clear but the money counts when it is added not when it clears.

I probably need to formulate it better. I know you could use debit card and it is instantly credited to your SIIP ac. I have been using Halifax regularly to meet the spending requirement to get £5 cashback. But After exhausting Halifax is there any better way of doing it. I mention about instant as today is the last day to benefit from taxation.

But for the future is there anyway to get cashback, no need to be instants in this case. Cashback credit card is out of the equation.

Doesn't that depend on the Ts & Cs of whichever card/scheme/offer you're getting cashback from, rather than the merchant you're paying?

Stargunner

adindas said:

jimjames said:

Not sure what you mean by instant. I've added money to my Vanguard account today using a debit card and it appeared instantly and is part of this years tax allowance. It might take 24 hours to clear but the money counts when it is added not when it clears.

I probably need to formulate it better. I know you could use debit card and it is instantly credited to your SIIP ac. I have been using Halifax regularly to meet the spending requirement to get £5 cashback. But After exhausting Halifax is there any better way of doing it. I mention about instant as today is the last day to benefit from taxation.

But for the future is there anyway to get cashback, no need to be instants in this case. Cashback credit card is out of the equation.

Why don’t you just carry on using Halifax?

adindas

eskbanker said:

Doesn't that depend on the Ts & Cs of whichever card/scheme/offer you're getting cashback from, rather than the merchant you're paying?

Exactly. I have tried Chase Debitcard in the past, I do not get cashback but that is expected as Chase bank have mentioned it in the TCs that funding investment is not included the cashback. But I just tried my luck as nothing to lose.

Stargunner said:

Why don’t you just carry on using Halifax?

I have used all of my Halifax Reward Accounts for this month. So no more benefit by paying it using Halifax Debitcards.