A Savings Plan can use one of two payment methods depending on your bank - Direct Debit or C-VRP.
You can edit your Direct Debit payment amount at any time. However, to change your Direct Debit collection date or edit a Savings Plan set up using C-VRPs, you will need to cancel your existing mandate and create a new one.
How do I edit or cancel my Savings Plan?
To change the payment amount or collection date of your Savings Plan, or to cancel it, go to Settings > Linked banks and Savings plans in your account and select the Savings Plan you want to edit or cancel. Alternatively, you can select the Savings Plan directly from your portfolio page.
How do I change my Direct Debit payment amount?
If you want to change your Direct Debit payment amount, enter the new amount on the next screen, tick the checkbox to reconfirm your agreement to the Terms and Conditions, and select Continue at the bottom of the screen.
How do I cancel my Savings Plan?
To cancel your Savings Plan, select Stop Savings Plan (for C-VRPs) or Stop Monthly Payment (for Direct Debits) on the same screen.
C-VRPs can be cancelled and set up again at any time.
For Direct Debit changes to take effect, you need to allow at least five working days between making the changes and your next scheduled payment date. If your next payment is due within five working days of making the changes, they will take effect the following month.
What should I do if my Savings Plan payment hasn't been collected?
If your Savings Plan payment hasn't been collected from your bank account on the expected date, please contact your bank to check:
- Whether you have sufficient funds in your account to cover the payment.
- Whether you have reached your daily payment limit.
- Whether the mandate is active with your bank.
If your bank confirms that there are no issues, please contact our Customer Support team for further assistance.