Your Savings Plans can be funded using either Direct Debit or Variable Recurring Payments (VRP).
Variable Recurring Payments allow you to consistently contribute to your portfolio and receive your contributions sooner.
- OpenBanking technology allows your Recurring Payments to be added to your portfolio the same working day.
- Have greater control of your investment schedule by choosing the frequency that suits you. You can make contributions weekly, fortnightly or monthly.
OpenBanking Recurring Payments is a relatively new technology which is currently supported by the 9 largest UK banks - which is 76.1% of all UK retail accounts:
- AIB Group UK (trading as First Trust Bank in Northern Ireland)
- Bank of Ireland (UK)
- Barclays Bank
- HSBC Group (including First Direct and M&S)
- Lloyds Banking Group (including Bank of Scotland and Halifax)
- Nationwide Building Society
- NatWest Group (including NatWest, Royal Bank of Scotland and Ulster Bank NI)
- Northern Bank Limited (trading as Danske Bank)
- Santander UK
Please note: Recurring payments are set up to your nominated bank account. If the bank does not support VRP technology, you will be offered to set up a Direct Debit.
If one of your secondary bank accounts supports VRP, you can make it the Nominated Bank Account to make use of the advantages of the VRP technology. You can email us on email@example.com or submit a request via our website contact form. Please note we may need to see a recent statement if it is a new account.