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So:

1. you've set up your regular contribution, 
2. the funds have been direct debited from your bank account, 
3. but you can't see them in your Professionally Managed Account (PMA).

Why is that?

There will be a delay between the funds being drawn and your contribution/transactions being shown in your Portfolio Manager. This delay can take up to five business days.

This delay is due to the direct debit process with the bank. Here is the reason.

When InvestSMART run direct debits, the bank immediately credits our account with the funds requested. This crediting happens before the bank contacts other institutions to draw the funds from our client's accounts. 

The bank contacts those institutions and attempts to pull the funds. If there are insufficient funds, the bank will try again in the next two business days. If they can't pull the funds, the direct debit is rejected, and the bank claws back the cash they sent through to us. 

Because of this, we wait for that rejection process before transferring the amounts to client accounts. 

Then, there is a 24-hour delay in our reporting on the website. 

This is why there's a delay with funds appearing to be drawn from your bank account to when they are visible in your InvestSMART PMA.

You have the option to set up a Regular Contribution Plan for your investment account.

This can be done online here under Regular Contribution Plan.

^{Above: Screenshot of Regular Contribution Plan setting}

What is it?

The Regular Contribution Plan is a monthly direct debit payment from your nominated bank account. The minimum amount is $100 and the maximum is $6,000. 

How do I activate it?

During the initial application process or online here under Regular Contribution Plan once your PMA has been opened.

How does it work?

Funds are drawn via direct debit on the 15th of each month or the following business day. If you have insufficient funds, our administration team will contact you to facilitate the transfer at another date, or you can just skip the payment for the month. 

How are the funds applied?

The funds are applied to the existing investment model split inside your PMA. So, for example, if you have three model portfolios, Growth 50%, Ethical Growth 30%, and Interest Income 20%, your regular contribution will follow the same split.

Unfortunately, you cannot customise or choose where you would like your regular contribution to be allocated.

If you wish to make contributions to a specific model portfolio, please see How can I add funds to a specific portfolio?

Step by Step

If you are already invested with us and would like to get a contribution plan started please take the following steps:

• Click My Account and select My Investments
• Select Investment Preferences
• Adjust your Regular Contribution Plan i.e. toggle on/off and specify amount
• Click Save Settings Select your Verification Method - Email or Mobile - to complete the change

Please note that there will be a delay between the funds being drawn and your contribution and transactions being reconciled in your Portfolio Manager. We recommend that you consider up to five business days. See Why is there a delay with regular contributions?