Can't use an account

Help & FAQs
1

Hi,

I want to set up a recurring payment but when I try to connect an account it goes through true layer, the account appears in the list of my barclays accounts but then invest engine says ‘cancelled’.

It looks like I can only pay from my current account. I want it to come out from another account.

Trading212 can do this, can invest engine?

Thanks

2

Try setting up a standing order from the bank you want to use to go to IE - I transfer money this way.

This is how to do it…

How do I set up a standing order? – InvestEngine https://share.google/XQy2oQ8VDU0QCsfYd

Do ignore the half sentence where it says “If you wish to regularly fund your account more frequently than once a month”

3

Hi, thanks.

I set up a standing order to send funds and used my portfolio number as a reference.

I assume there will be no issue with this and it’ll work as intended.

Reason I’m asking is I’ve now also seen that in the autoinvest area I can actually set up a direct debit by setting up a savings plan.

I assume these are essentially the same thing but wondered if one had a benefit over the other

4

There is no benefit of using a Savings Plan over a standing order…. if your bank supports Savings Plans that is (or rather the technology behind them). Some banks do and some banks don’t.

You can find more information here (https://help.investengine.com/hc/en-gb/articles/10567555238941-What-are-Variable-Recurring-Payments-and-how-can-I-start-using-them) - personally I prefer standing orders over direct Debits.

5

How long does it take for the money from a Standing Order, to be invested with auto-invest?

6

Mine is the day after received. Eg, S/O sent on Thursday, order will go through on Friday.