The maximum amount that any individual can save under the new scheme is £200 per month. The scheme is therefore designed to encourage regular savings, and not to facilitate lump sum savings.
There is no general prohibition on the use of lump sum savings – whether in the form of a deposit account or not – to feed an SSIA. Such a general prohibition would be unworkable. However, section 848G(1)(f2>c) of the Finance Act, 2001, specifically prevents an individual from using moneys in a connected account to drip-feed an SSIA.
I understand that the Revenue Commissioners have issued detailed guidelines to the financial institutions setting out the circumstances in which a deposit or other account will be deemed to be connected with funds held in an SSIA. For this purpose, in brief, an asset is connected with another asset if the terms under which either of them is acquired and held would be different if the other asset was not acquired and held.