How to amend a Direct Debit

If your bank does not support Variable Recurring Payments, you can make regular payments into your InvestEngine account using Direct Debits.
Please note for changes to come into effect, you need to allow a minimum of 5 working days clearing time from the set up date and your current monthly payment date. If the payment date is within 5 working days of the day that you are making changes, they will come into effect the following month.

See more: How do I set up the Savings Plans feature?

When will my direct debit payment appear in my account?

The date that you choose to make your monthly payment is called the charge date.

Three working days before the charge date, an entry will appear in your Transactions tab for your Direct Debit payment and will be marked as 'Processing'. On this day your bank begins to process the Direct Debit.

On the charge date, the funds will be deducted from your bank account. We will receive the funds two working days after this. It takes one working day for the funds to be reflected in your portfolio.

To sum up: Direct Debit payments will appear in your account 3-5 working days after the charge date or six working days if we count from the date the transaction is created on your dashboard. 

(Savings Plans VRP will only take one day to reach your InvestEngine account).