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How do I set up Natural Income payments on an account?

This step-by-step summary explains how to set up natural income payments on an account.

Date: 26 October 2022

2 minute read

Natural income can be reinvested or left as cash within the account or paid to a nominated bank (ISA/Collective Investment Account only).

When you ask for payment to be paid to a nominated bank account, you have two options:

  1. Income can be rolled up into a single payment, at a chosen frequency.
  2. Each distribution can be paid individually to your client, upon receipt from the fund manager.

Either option can be selected easily online.

What you’ll need to get started

  • The name of the client and their account number
  • The frequency the client wishes to receive their income. This is only applicable if natural income is being rolled up into one payment to the client's nominated bank account.
  • Important: If you choose to roll up natural income payments, your client’s income will be made on the penultimate working day of the month.

Setting up Natural Income: Step-by-step

  1. From the homepage, search for the relevant client.
  2. Select the client’s account.
  3. Select the ‘Money in/out’ tab.
  4. Select the ‘Edit’ button next to ‘Distribution options’ at the bottom of the screen.
  5. Select for natural income payments to ‘Reinvest’, ‘Leave as cash’ or ‘Pay to a nominated bank account’.
    - If ‘Reinvest’ or ‘Leave as cash’ has been selected, skip to step 9 to complete the request.
    - If you choose ‘Reinvest’ and the account is invested in a model portfolio, any income generated by an asset will buy units proportionally across all assets in the portfolio.
  6. If ‘Pay to nominated bank account’ is selected, choose the payment frequency.
    - If you select ‘immediately’, income will be paid to the client as soon as we receive it.
    - If you select ‘regularly’, income will be rolled up into a single payment at a chosen frequency rather than being paid out to the client when we receive it.
  7. If ‘Regularly’ has been selected, chose the payment frequency.
  8. Select the clients bank account from the ‘destination bank account’ dropdown menu.
  9. Complete the request by selecting ‘Save’.
    Important: If you choose to roll up natural income payments, your client’s income will be made on the penultimate working day of the month.

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