It is possible to reduce, stop and restart regular contributions without penalty but we need the amended direct debit instructions in good time before the collection date.
In line with our Terms we will process any instruction received 10 working days or more before the next direct debit collection takes place. If an instruction is received less than 10 working days before the collection date it cannot be guaranteed, although we will try to process these where possible.
We understand that you may wish to reduce your regular contributions to the minimum level on a temporary basis during the coronavirus crisis.
Our Terms state that the minimum contribution amount is £99 per month, however in order to offer you greater flexibility during this period we will currently accept requests to reduce monthly contributions to a minimum of £25 per month.
How instructions to decrease or stop a direct debit can be accepted
- Investor direct debits – telephone/email/fax/written instruction from the yourself or your financial adviser
- Employer direct debits – please contact us for further details
- Third party direct debits – third parties should write to us to make an amendment to an existing direct debit. If this is not possible then we will accept instruction from a financial adviser or third party via email, with a written instruction to follow.