How do I set up a Direct Debit?
First of all you need to choose which type of Direct Debit you wish to set up. The following types of Direct Debit are available:
- Direct Debit for Shortfalls & Fees - This Direct Debit will allow you to make purchases, up to the 'available to invest' figure showing in the 'portfolio and accounts' section of our website, without having to credit funds prior to making your purchase. When your purchase settles we will then apply for the funds from your nominated bank account using the Direct Debit System. In addition the direct debit can be used to collect fees from your nominated bank account if you wish. If you don't have a Barclays Bank account you must send a bank statement dated within the last 6 months to enable us to verify this account*
- Direct Debit for Regular Payments - This Direct Debit will allow you to make monthly payments to your Barclays Stockbrokers account of £100 or more. If you don't have a Barclays Bank account you must send a bank statement dated within the last 6 months to enable us to verify this account*. Please note if you are looking to make regular payments to your Barclays Stockbrokers SIPP account, you would need to use the form below.
- Barclays Stockbrokers SIPP Direct Debit for Regular Payments - To make regular payments to your Barclays Stockbrokers SIPP account.
- ShareDeal Direct Debit - Set up a direct debit for your ShareDeal (certificated dealing account) Please note that we cannot accept cheques pr electronic payments as verification of bank details for ShareDeal accounts.
Please note that your nominated bank account must be a UK personal current account in your name and accept Sterling debits and credits and electronic payments. Business or Savings accounts cannot be used.
Once you have completed your Direct Debit form please send it to us at:
Direct Debit Department
300 Bath Street
If you are sending a Direct Debit for a Barclays Stockbrokers SIPP account, please send this to us at:
Sippdeal Trustees Ltd
Barclays Stockbrokers SIPP
Upon receiving your completed form please allow 5 working days for the Direct Debit to be set up with your bank.
Please note Direct Debits cannot be set up automatically online, please follow the instructions as above.
*We can accept:
An original or certified copy* of your bank statement dated from within the last six months which confirms your name as account holder, sort code and account number. Please note we can accept internet bank statements.
* Certified copies
Certified copies are duplicates of documents which a person of professional standing has stated to be genuine copies of the original documents. The person certifying the document must:
• Sign, stamp and date the document and state in writing that it is a true copy of the original which they have seen
• confirm their position (in line with acceptable certifiers above)
• provide a contact telephone number or email address
People who can certify documents are:
• Employees of Barclays Group or Barclays Wealth , including Barclays Bank counter staff
• Post Office certification service
• A government department, member of staff or official
• A director, manager or bank counter staff of a bank or an authorised credit or financial institution
• A director, company secretary or manager of an Approved Fiduciary Services Provider
• An Embassy, consulate or high commission officer in the country of issue
• A qualified lawyer or attorney, registered with the relevant national professional body
• A qualified accountant, registered with the relevant national professional body
• A notary public, a member of the judiciary, a senior civil servant or a serving police officer.
PLEASE NOTE: If your portfolio is an ISA which you have not subscribed to in the current or previous tax year, we also need you to complete and return an Additional Subscription Form (which can be obtained either from our website or by calling our Client Service Team). Please note the ISA subscription limit is £11,880 (2014/15). If you have already fully subscribed we are unable to add cash to your portfolio and will require an alternative form of verification