standing order or direct debit? regular saving isa

new

Hoping someone can help me !

I have a First Direct current account and have taken on the First Direct regular ISA saver.

It allows up minimum of £30 and maximum of £300 per month.

I have deposited £30 on June 11 - how do I re-distribute the rest over the remaining 11 months, so that I make sure to use my full £3600 allowance?

Secondly, is it better to do it via standing order or direct debit?

Loads of thanks!!!

Baldur

If you are only able to deposit a maximum of £300 per month, you need to pay in another £270 before the end of June, then £300 in each of the next 11 months in order to achieve the maximum £3,600.

new

Baldur wrote: »

If you are only able to deposit a maximum of £300 per month, you need to pay in another £270 before the end of June, then £300 in each of the next 11 months in order to achieve the maximum £3,600.

ah...but i already only put £30!

problem solved - I rang First Direct who have helped do the math:
£325 jul
£324.50 per moth for remaining period

Thanks for your reply anyway!

Baldur

new wrote: »

ah...but i already only put £30!

problem solved - I rang First Direct who have helped do the math:
£325 jul
£324.50 per moth for remaining period

Thanks for your reply anyway!

Your original post said " It allows up minimum of £30 and maximum of £300 per month" - which was the information used for my answer and is at variance with the above.

It's also at variance with the Terms & Conditions of the Regular Saver ISA - "Maximum Monthly Balance" means £300 in the first month after your Account is opened, increasing by £300 in each subsequent month during the First Year. So, £600 in month 2, £900 in month 3 and so on."

new

Baldur wrote: »

Your original post said " It allows up minimum of £30 and maximum of £300 per month" - which was the information used for my answer and is at variance with the above.

It's also at variance with the Terms & Conditions of the Regular Saver ISA - "Maximum Monthly Balance" means £300 in the first month after your Account is opened, increasing by £300 in each subsequent month during the First Year. So, £600 in month 2, £900 in month 3 and so on."

Thanks.
I have realised I have made a dogs dinner due to financial/maths ignorance - having reviewed the situation:D I realised that starting a regular saver ISA late ie in June means that I might be losing out on the full allowance [even with £300 per month, also because it is rolling it would have to be at 12 months and therefore would bite into my next years allowance] So I had a long chat with First Direct and because it is in 14 days cooling off, I have cancelled this ISA and hope to reinvest it as a lump-sum somwhere else!:cool: