How do I link a new bank account?

  • Updated

Using the InvestEngine App:

  1. Tap your profile icon (top-left corner).
  2. Go to Settings.
  3. Navigate to the Funding section and tap Linked Banks & Savings Plans.
  4. Select Link Another Account.
  5. Follow the prompts via Open Banking.

Using the Website:

  1. Click your profile icon (top-right corner).
  2. Go to Settings.
  3. Navigate to the Funding section and click Linked Banks & Savings Plans.
  4. Select Link Another Account.
  5. Follow the prompts via Open Banking.

You can also link a new bank account directly from your portfolio, by following the steps in the video below:

 

Verification Process

Once linked, your bank account will go through an automatic check. In some cases, you may need to upload a bank statement for manual verification. Further information on this can be found here.

Open Banking Restrictions

Open Banking is available across most UK banks and building societies, but some institutions or bank accounts are not eligible to use it.

Banks that do not support Open Banking

The following banks and building societies are currently not supported via Open Banking:

  • Chase Bank
  • Yorkshire Building Society
  • Chelsea Building Society
  • Co-operative Banking
  • Metro Bank
  • Kroo
  • Triodos Bank

If your nominated bank account is held with one of these institutions, you won’t be able to use:

  • PIS / Instant Transfer for one-off payments
  • VRP for recurring payments

This is determined by the bank’s participation in the Open Banking network and is not something InvestEngine or our Open Banking provider, TrueLayer, can change.

You can instead use:

  • Bank transfer for one-off payments
  • Direct Debit (DD) for recurring payments

Bank accounts registered in the Crown Dependencies

There are additional restrictions for bank accounts registered in the Isle of Man, Guernsey, or Jersey.

These locations are not automatically covered by the UK Open Banking network. Banking groups can choose to participate by joining the Crown Dependencies Directory, which enables Open Banking access for eligible accounts in these locations.

If your bank does not participate, you won’t be able to use Open Banking products such as PIS / Instant Transfer or VRP.

The restriction depends on where your bank account is registered, not where you live.

For example:

  • If you live in the Isle of Man, Guernsey, or Jersey but your bank account is registered in mainland UK or Northern Ireland, Open Banking should still be available.
  • Northern Ireland is treated as part of the UK for Open Banking purposes and is not subject to the Crown Dependencies restriction.

If Open Banking is unavailable for your account, you can instead use bank transfer for one-off payments or Direct Debit (DD) for recurring payments.

 

 

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