Kent Reliance Direct ISA BACS Payment

meatandtwoveg

Has anyone paid money into there Kent Reliance Direct ISA by using the BACS facility? I ask because my brother has a ISA with the society, he has always paid in using a cheque facility, is it ok to pay into it using the BACS facility.

Also, the new tax year starts on Sunday 06th April, if he did use the BACS facility, would it be ok to initiate the BACS payment on Friday 4th April, so it would reach and clear funds on the Tuesday 7th April 2007?

Cheers.

Milarky

It should be ok to use BACS to credit the account

I would avoid using it on Friday (4th) however and send it on Monday (7th) instead - just to avoid any possibility of the payment being received too early. That way only 1 day is lost anyway.

Biggles

Mine goes off tomorrow, it will arrive in their bank account on Monday (not sure if it will get to my ISA the same day, though....)

meatandtwoveg

From a Kent Reliance paying in slip - Can it work with the Direct ISA?

Option 1: Pay by BACS (this will take 3 working days to reach us)
To transfer the funds directly to us, all you need to do is supply your
bank/building society (either on-line or by telephone) with the following details:

a) Sortcode: 62-24-97.

b) Account details details: this will be the numerical element of your account reference with a zero added in front of the number to make it eight digits long e.g. DIS5515588KRB would become 05515588.

c) Reference: if a reference is required please quote your whole account number which includes the prefix and the first three letters of your surname e.g. DIS5515588KRB.

d) Amount to be transferred.

Please note:

If you have a Direct account, confirmation of your BACS payment will appear on your next quarterly statement.

Hazzanet

I've always used the details from here: http://www.krbs.co.uk/pdfs/standingorderaug07.pdf

So:

Sort code: 62-24-97
Account Number: 00000000
Reference: DISXXXXXXXABC

and it's always arrived.

Hope that helps.

Hazza

meatandtwoveg

Hazzanet wrote: »

I've always used the details from here: http://www.krbs.co.uk/pdfs/standingorderaug07.pdf

So:

Sort code: 62-24-97
Account Number: 00000000
Reference: DISXXXXXXXABC

and it's always arrived.

Hope that helps.

Hazza

Helps, it does, fantastic thanks very much, i will get him to send it tomorrow by BACS, so it will clear on Tuesday all being well!

Cheers.

Biggles

meatandtwoveg wrote: »

Helps, it does, fantastic thanks very much, i will get him to send it tomorrow by BACS, so it will clear on Tuesday all being well!

If he doesn't actually initiate it till tomorrow, Tuesday 8 Apr is the absolute earliest it can get there by the BACS cycle. Could be later, depending on his bank and its systems.

Biggles

meatandtwoveg wrote: »

From a Kent Reliance paying in slip - Can it work with the Direct ISA?

Those exact same instructions are given, directly from a link on their Direct ISA page but it obviously applies to all their accounts, at http://www.krbs.co.uk/using.aspx

bristolleedsfan

meatandtwoveg wrote: »

Helps, it does, fantastic thanks very much, i will get him to send it tomorrow by BACS, so it will clear on Tuesday all being well!

Cheers.

Personally i would send it on Monday to avoid losing interest on Saturday and Sunday.