Setting up an ISA and putting money in from banks abroad

tillathenun

Hello all,

My girlfriend (who lives in Italy) and I would like to set up an ISA. We will both put money into it and the idea is that it'll form a fund for both of us to use as a deposit for a house in the future, when we live in the same country!

I have an Egg Cash ISA which seems pretty good, but I was wondering how difficult it is putting money in from abroad - will she be able to transfer money easily (set up a standing order perhaps) with her Italian bank, or do ISAs not allow that?

I hope that makes sense?

Andy

jem16

An ISA is an individual account not joint. All money paid into it must come from the owner's account so your girlfriend would not be able to pay money into your ISA.

Baldur

Neither would she be able to have a Cash ISA herself, see HERE:

"You can only subscribe to an ISA if you are resident and ordinarily resident in the UK for tax purposes. Overseas residents are not eligible to apply for an ISA."

BruceyBonus

You could set-up a joint account (not ISA) at a bank that will give an IBAN and BIC. I believe bank transfer is common in Italy so shouldn't be too expensive.

tillathenun

Thank you all! I'll go fishing for a decent savings account now...