Adding or amending a client’s nominated bank account video guide

We always need a nominated bank account saved for clients who want to receive regular or ad-hoc withdrawals or make regular contributions. Normally, this would be set up at the time of the application, but you can choose to add or amend these bank details later if you wish. In this video, we will show you how to do this.

You will need two things in order to add or amend the nominated bank details:

1. Firstly, a signed instruction from the client requesting that this bank account be added to their 7IM account. This can be signed electronically by the client using the likes of DocuSign or Adobe Sign.
2. Secondly, verification that the client owns that bank account, such as a recent statement or a copy of a cheque. We will try and verify the bank details electronically but sending us a statement will prevent any delays if we are unable to do this.

To amend the details, firstly go to the Client Account area and click on Client Details. Then on Bank Details. This displays the current nominated bank account if there is one set.

At the bottom, click on Change Bank Account.

Now, click the confirmation button and choose the wrapper that you want to update. This will normally be the client’s GIA & ISA.

Next, click Select Files to locate the scanned copy of the signed client instruction and the verification document.

Finally, click Upload File and then Submit to send the instruction to us.

When you next come into this section, you will see that the change is now pending. Once updated, you will see the new bank details displayed on this screen.

Please note, if a client is making a regular contribution into their 7IM account by direct debit, you will need to cancel that online and set up a new one linked to the new bank account details once they have been changed.