Depositing funds on the platform
From this Thursday (12th March), to deposit funds into one of your investment accounts, we will need to know the
exact amount you wish to deposit before you transfer funds from your bank.
This new process will add an additional layer of security to ensure that funds invested in your account have been made by you and are for the amount expected.
We also want to help you get your funds invested in your chosen account as quickly as possible. This process will reduce the number of deposits that have to be manually allocated by confirming your intentions in advance, so your funds are interest-bearing as soon as possible.
Below we have provided a step by step guide to depositing funds on the platform from this date:
If you wish to make a one-off deposit, you'll need to visit the Depositing Funds page and click on the 'One-off deposit' icon. Then choose the destination 'Investment Account' and input the exact amount you intend to deposit.
Following this, we'll supply you with the bank transfer details
required for you to make the bank transfer. You must ensure that these details are entered exactly as they appear
for the transfer to take place.
What happens if you don't follow this new process?
you don't follow the process outlined above when transferring funds, the next time you log into your account, you
will need to confirm that you have made the deposits by clicking on the 'REVIEW' button.
You can then
confirm or change the destination 'Investment Account' and also confirm that the deposit was made by you.
Alternatively, you can reject the deposit and the funds will be returned to the account they came from.
If the reference you used on the deposit did not match one of your known accounts, it will be highlighted in red. This is just for future reference to ensure you always input the correct information on your bank transfer.
your confirmation we can't accept your funds, so they will be placed into a holding account. If after 9 working
days, you have not confirmed or rejected the deposit, the funds will be returned back to the account they came from.
This new process will come into effect on Thursday 12th March. For any funds that you have deposited prior to this date, which have not cleared in your account, you will need to log in and confirm the deposit before your funds can be allocated to your chosen investment account.
For more information about these changes, you can read section R. in our FAQs.
Updated 24th March 2020:
We're pleased to let you know that we've introduced a standing order option on the platform so you can set up regular deposits direct from your bank account.
You will only have to set this up once to ensure that your funds are invested in your chosen account on an ongoing basis.
Setting up regular deposits is easy. All you have to do is follow the steps below:
First, you'll need to visit the Depositing Funds page and click on the 'Regular deposit' icon. Then choose the account you wish to invest in (Investment Account), the exact amount you intend to deposit and the start date. You can also choose how regularly you wish to deposit into your chosen account e.g. every 1 week, 2 weeks, 1 month etc.
Following this, we'll supply you with the details required for you to set up the standing order with your bank. You must ensure that these details are entered exactly as they appear for the regular deposits to take place.
You can choose to cancel your regular deposits at any time by clicking on the cancel button in the Regular Deposit Schedule. You will also need to cancel your standing order with your bank.
If you need any help or assistance please contact our investor team on 0800 470 0430 (option 1), via Live Chat on our website or email email@example.com, Monday to Friday 9am - 5.30pm.
- March 7, 2020