How do I set up a Direct Debit for my Investment Trust ISA and Savings Scheme?
You can set up a Direct Debit by completing an Investment Trust application form and returning it with a cheque, made payable to "Invesco Fund Managers Ltd Client a/c", for the first payment. The cheque must be from the same bank or building society account as your Direct Debit.
Please note it is not possible to make monthly payments by Direct Debit into the Investment Trust ISA when you are making additional permitted subscriptions.
New Direct Debits for all Investment Trust ISAs and Savings Schemes are automatically set up to collect on the 28th of each month.
If these dates fall on a weekend or a UK bank holiday, the collection will be made on the next business day. If the cheque is received by us before 12 noon, the shares will be bought on the same business day. If the cheque is received after 12 noon, the shares will be bought on the next business day.
The cheque we receive for the Direct Debit set up, represents the initial Direct Debit payment. We have to receive the cheque more than ten working days before the collection date to register the collection for that same month. The Direct Debit collections will start the month following the initial subscription.
If you chose to invest monthly via Direct Debit in an Investment Trust ISA and/or Savings Scheme, you can only have your dividends reinvested to purchase more shares. You will not have the option to have income paid out to you.
Investment Trust ISA regular savings investments will automatically continue for subsequent tax years, unless you instruct us otherwise.