Things to remember:
- Direct Debit: for new clients it takes 5 working days to set up a direct debit. A direct debit payment takes 3 working days to be taken from instruction. Therefore, a new direct debit payment request will take 8 working days to process.
- Regular ISA/GIA Payment/Withdrawal Dates: Requests for when ISA/GIA payments are taken or withdrawals paid out can be 7th, 14th, 21st, 28th of a month.
- Pension drawdown payments: By default paid out 1st of the month with all requirements needing to be processed by the 20th of the preceding month, though weekly payrolls are provided.
- Bank Transfers: If a client transfers money into their account, providing all details match (amount and reference especially) this will automatically allocate within 20 seconds of payment.
- Withdrawal including sell-down: if the investment account does not have enough cleared cash to make a withdrawal, it will take up to an additional 4 days for fund transaction to settle.
- Once in a client’s investment account, click on the 3 dots under “Action” and select “Pay in”. This’ll generate the paying in form.
- Single of regular payment
- Size of payment
- Method – BACS or Direct Debit
- Adviser fee (leave blank for no fee)
- Keep as cash or invest. (Invest will allow you to select investments)
- Then you can review the payment.
- If you have selected BACS it will provide you with the account details. (With the expectation created, when the client makes payment it’ll arrive on platform near instantaneously)
Setting Up Withdrawals
- Same as paying in, navigate to a client’s investment account and click the “Withdrawal” option.
- Single or Regular payment.
- If regular, select date for withdrawal and amount.
- Auto-disinvestment allows you to select whether it’s proportional across all holdings or from largest holding.
- Once you have completed the form, you can review the information and submit.
- For singular payments, input the amount and review. If you do not have cleared cash the system will auto-divest, this will add approx. 4 days to withdrawal process.
Need more help?
If you’ve still questions as to adding an illustration or, had issues trying to create one, please get in touch with our platform team and they will be able to assist.