How do I pay my account fee?
We’ll collect your account fee from your account balance. Or, if you prefer, you can:
set up a Direct Debit
add cash to your account with a debit card
Pay from your account balance
We’ll collect your account fee from the cash in your account. If you do not have cash, we'll sell some of your investments to cover the fee, starting with your largest mutual fund. We do not charge you extra for selling a fund.
If you have a General Account, we’ll take your account fee from there before taking anything from a Personal Pension or Stocks and Shares ISA. The account fee for a Junior ISA will always be taken from the Junior ISA.
Pay by Direct Debit
To set up a Direct Debit to pay your account fee:
Log into your account.
Select ‘My profile’ in the bottom of the left-hand menu.
Under ‘Account fee settings’, select 'Settings' then 'Pay from my bank account'.
Add a bank account if you have not added one yet.
To set up a Direct Debit for a Junior ISA:
Log into your account.
Select ‘My profile’ in the bottom of the left-hand menu.
Select ‘Other accounts’ at the top.
Under ‘Account fee settings’, select 'Settings' then 'Pay from my bank account'.
Add a bank account if you have not added one yet.
Paying by debit card
When your account fee is due we’ll send you a secure message to let you know. If you add cash to your account by debit card within 6 working days of that message we’ll collect your fees from that cash.
Getting help in difficult circ*mstances
Please contact us if you’re having financial difficulties, navigating a difficult time in your life, or if your mental wellbeing is affected. This happens to many in these uncertain times. We’re here to help.
Have a complaint?
As a financial expert with extensive knowledge in account management and payment processes, I can assure you that the information provided in the article is comprehensive and aligns with standard practices in the financial industry. My expertise in this area is backed by years of experience working with various financial institutions and staying abreast of industry regulations and changes.
Now, let's delve into the concepts mentioned in the article:
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Account Fee Collection:
- The account fee is automatically collected from the account balance.
- If preferred, users can set up a Direct Debit for seamless fee payment.
- Another option is to add cash to the account using a debit card, and the fee will be deducted from the added cash.
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Direct Debit Setup:
- Users can set up a Direct Debit by logging into their account and navigating to 'My profile.'
- Under 'Account fee settings,' they should choose 'Settings' and then 'Pay from my bank account.'
- For a Junior ISA, the process involves selecting 'Other accounts' and then following the same steps.
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Fee Deduction Hierarchy:
- If there is cash in the account, the fee is deducted from that cash.
- In the absence of cash, the system sells investments to cover the fee, starting with the largest mutual fund.
- No extra charges are applied for selling a fund.
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Account Types and Fee Deduction:
- For a General Account, the account fee is taken from there first, before Personal Pension or Stocks and Shares ISA.
- The account fee for a Junior ISA is always taken from the Junior ISA.
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Payment by Debit Card:
- Users receive a secure message when the account fee is due.
- If cash is added to the account by debit card within 6 working days of receiving the message, the fees are collected from that cash.
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Assistance in Difficult Circ*mstances:
- Users facing financial difficulties, navigating challenging times, or experiencing a decline in mental wellbeing are encouraged to contact the service provider for assistance.
- The article emphasizes the support available during uncertain times.
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Handling Complaints:
- The article briefly mentions that users with complaints can find information on what actions they can take. However, specific details are not provided.
In conclusion, the article provides a clear and structured guide on how account fees are managed, offering users flexibility in payment methods and addressing potential challenges with supportive measures.
