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15 March, 2010 |

Can my wages directly be paid into my isa? (UK)?

  • i'm only 16 and it's a weekend job at £4 per hour and work no more than 8 hours a week.

    help please!

    oh i gave my employer my ISA details as my account but still haven't received wages!


  • Not sure if you can or not, but if you get your wages paid into a current account you can then have a standing order for however much you can afford to be paid into an ISA account each month.


  • There is no point in paying direct into ISA - you are not even close to the tax threshold with your current earnings and a young savers account will give you sufficient tax relief.

    Perhaps set up a current account for your wages and standing order monthly into your ISA / savings account


  • I know my friend used to do a weekend job but she had her wages paid into a normal bank account then transferred a % into her ISA so that she still had some money left to spend. Have you been there long enough to get paid yet though?


  • It depends whether your ISA provider will accept it. Why have you got an ISA? Do you pay any tax? An ISA is a tax efficent wrapper, do you need it?


  • Wages are normally only paid into a current account as opposed to a savings account
    But technically there should be no problems about paying money straight into your Cash ISA
    So long as you have given the correct details of the account .. i.e sort code and account number it should be fine
    Chase up the wages dept of the company you work for and then get on to your bank







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