Direct debits allow you to automatically add money to your account every month.
You will be invited to set up a direct debit when you first sign up to Tembo, but you can also manage this later in your account settings.
Direct Debits are available for our Lifetime ISA, Cash ISA and HomeSaver accounts.
When setting up your payment, you can select the specific date and the amount you want to be transferred into your account automatically each month. A few things to remember:
Minimum contribution: The minimum monthly direct debit is £25.
Maximum contribution: You can choose to transfer as much as you like, provided it stays within your annual ISA limits or HomeSaver limits.
If you reach any of the limits for your accounts, we’ll pause your direct debit until the new financial year.Processing time: It usually takes one working day after your direct debit is collected for the funds to land in your account.
Changing your payment details
We know that life can change, so we have made it easy to adjust your contributions to suit your current budget. Through your account, you can:
Amend the date: Change which day of the month the money leaves your bank.
Change the amount: Increase or decrease your monthly contribution.
Pause your direct debit payments: You can find out how to pause/skip/cancel direct debits here
Important: To make sure your changes take effect, please update your settings at least three working days before your next scheduled payment date.