Bank Account Maintenance

This guide provides key information on how to Add and Maintain Bank details for existing Accounts on the Portal.

Getting Started

On accessing the Portal you will be taken to the Dashboard screen below.

For Users with no linked Investor or Account details (e.g. Admin staff) the Dashboard will show as below.

Now select the Main Menu icon at the top of the screen.

From the ribbon shown select the Investors menu.

Then either Dashboard/Manage or Investor Accounts.

Dashboard/Manage allows you to search for any Investor on the Portal whether they have any in-force Accounts or not. Selecting the Investor will take you to their Global Overview.

Investor Accounts allows you to search for an individual Account. The Account must be in-force to be visible here. Select the Globe button on the right to access the Investor’s Global Overview.

Investor Global Overview

To begin the Amendment process first locate the required Account on the right of the screen and click on the All Account Actions cog in the bottom right of this tile.

The All Account Actions menu will now expand as shown. Select Bank Details to open the Maintain Banks screen where, for the selected Account, you can: -

• View existing Banks
• Add a new Bank
• Change the Primary Bank

Viewing existing Banks

The Maintain Banks screen shows as below.

The Active section details any existing unchecked Banks, Banks that have been passed by validation checks or reviewed and approved manually.

The Referred section details any Banks that have been referred by validation checks, submitted for review or referred for further information.

The Rejected section details any Banks that have been rejected following review.

Clicking on the Investor Bank icon    displays all Bank information for the current Client.

Adding a New Bank

This process allows the addition of a new Bank to an Account. 

Please note – Bank Accounts already held by an Investor on the Portal on related Accounts, but not the selected Account, cannot currently be added to the selected Account automatically.

Please follow the New Bank process below to add in this instance.

From the Maintain Banks screen, click on Add New Bank. 

Enter the new Bank Account Name, Sort Code and Account Number and click Submit.

Please note – The Investor details and address shown are pre-populated and cannot be changed here.

On clicking Submit, for Individual Investors any new Bank Details will then go through the Validation process.

If the Account is Validated, its Status will show on the Portal as Passed and the Adviser will be notified via an email sent to their registered account. This email will contain wording similar to the below: -

“Thank you for providing the bank details for XXXXXXXX. We are pleased to confirm they were successfully validated.”

If the Account is not Validated, its Status will show on the Portal as Referred and the Adviser will again be notified via an email sent to their registered account. A Referral email will contain wording similar to the below: -

“Thank you for providing the bank details for XXXXXXXX, however we were unable to validate the account and now require further documentation as evidence for validation purposes.”

This Referral email will also contain instructions as to the documentation required and process to be followed, which is detailed in the Bank Account Referral Process guide.

Changing a Primary Bank 

This process allows the change of any Secondary Bank to the Primary Bank.

Please note – At this time you are unable to change the Primary Bank if it has active Direct Debit or Regular Withdrawals for this Account. You should amend the Bank Details against the Direct Debit or Regular Withdrawals first as per the processes below. 

Account Amendment - Withdrawals

Account Amendment – Add/Amend Contributions  

From the Maintain Banks screen, first select the required Secondary Bank. 

Then click on Actions and select Make Primary. 

 A pop-up confirmation screen will then load with the proposed bank details. 

Click on Confirm Changes here and a successful bank update message is displayed. The Maintain Banks screen will now be updated with the new Primary and Secondary Banks.

Frequently Asked Questions

Is Maintain Banks available on all products?

This is available only on all Platform products.

As a Partner firm, are there any actions I need to take?

You will need to add the relevant supporting documentation for any Bank Details added to the Portal which are Referred following validation checks.

What supporting documentation is needed to approve the Referred banks?

There is a requirement to upload a certified copy of a Bank Statement dated within the last three months. Please see the Bank Account Referral Process guide for specific requirements.

I cannot see the Bank Details menu option available to my Client Account - why?

Please escalate locally in the first instance to ensure the correct permissions have been enabled for your Portal profile, referring to the Portal Permissions – Descriptions and roles document on the           Hubwise Knowledgebase. For further support, contact SS&C Hubwise via Freshdesk. 

How do I view all the Banks for an Investor?

Go to the Investor Banks tab on the Client Overview screen to see an overview of all the banks for the chosen investor.

How do I add an Employer Bank to an Account?

There are no changes to the Employer bank process. This can be added in the Application/Amendment journey as usual.

Are Withdrawals allowed only to the Primary Bank?

No, Single and Regular Withdrawals can be paid out to any Validated Bank. The required Bank can be selected from the dropdown during the Withdrawals journey on the Portal.