Validation of your Direct Debit Mandate FAQ's
1. Why is this happening?
As part of our regulatory responsibility, and commitment to client service, we need you to confirm the Direct Debit details we currently hold that permit us to debit your fees and/or any trade shortfall for settlement in relation to your portfolio.
2. What happens if I don't sign and return the letter?
Your Direct Debit instruction will continue to operate. However we may have to review the continuing operation of the mandate in the future.
3. What do I need to do?
Please arrange for all of the Authorised Signatories on the Bank Account(s) detailed in the letter to print their name(s), date and provide their signature(s) within the box illustrated in the enclosed reply letter. Please return this letter in the post using the pre-paid reply envelope
that we have enclosed.
4. For a joint account do both people have to sign?
All Authorised Signatures on the Bank Account(s) must sign the letter.
5. Why do I have to send my personal details through by post?
We are required by our regulators to obtain a signed letter from all Authorised Signatories on the Bank Account(s).
6. Can I take the signed form to a branch?
No, unfortunately that is not possible.
7. I don't want to use the Bank Account details on this letter any more, what should I do?
In order to meet regulatory requirements we still require the enclosed letter to be signed by all of the Authorised Signatories on the existing Bank Account(s) and returned to us using the enclosed pre-paid envelope.
If you wish to change the details of your Bank Account you will need to complete a new Direct Debit mandate form and return it to us, along with an original bank statement dated in the last six months relating to the account that you are nominating. Please note, we do not require you to enclose a statement if your nominated Bank Account is held with Barclays Bank PLC.
You can download a Direct Debit mandate form by accessing the following link on our Barclays Stockbrokers website: https://www.barclaysstockbrokers.co.uk/Accounts/Forms/Documents/DirectDebitForm-shortfallandfees.pdf
You are very welcome to return this mandate and bank statement along with your signed letter, in the enclosed pre-paid envelope we have provided.