Making payments on The Big Exchange

Whether you are a new customer or an existing one, it's always good to know how we take payments. There are currently only two ways to get money from your bank account onto The Big Exchange - they are:

  1. Making a single payment using a debit card, or;
  2. Making a regular payment by setting up a direct debit.

We will go through each scenario below and show you the different ways you can make payments work for you. If you want to skip to each one just click on the links above.

Make a single payment using your debit card

If you have chosen to make a single payment through our onboarding journey, or you are a returning customer, we will show you how it works.

Once you have chosen your investments, you will be asked to fill in one, or both of the following entry fields for a single payment and/or a regular payment.

If you want to pay in using your debit card you will need to enter an amount in the single payment field. You can set up a direct debit at the same time should you wish. To do this you would enter the amount you want to pay monthly in the monthly payment field. You can learn more about regular payments here.

Entering your payment details.

Once you have provided us with your personal information, you will be asked to enter your card details, so make sure you have it at hand.

You must use a VISA or Mastercard debit card which is registered to the same address as your Big Exchange account if you use a different card, your payment will fail.

Reviewing and confirming your payment

Once you have entered all of your information, you can press continue to review and confirm your payment.

At this point we send your payment card information to our payment processor who puts us in touch with your bank to check all the details match.

You may be asked by your bank to review the payment in your banking app or by entering a code or password sent from them to you. This is an online payments protocol to make sure you are protected when using your card online.

All debit card payments are sent encrypted to our payment processor. We do not store your card details in our system for increased security.

Success or failure

You may have to wait while the payment information is checked. Please do not press the back button on your browser.

If your payment is successful you will be told that you can now log in and see your funds.

A screeenshot of the successful account opening
Your success screen

If your payment attempt fails, you will be asked to try again. However, if you are concerned please speak to one of our team who will be able to help you. Any failed payments may sit as "pending" payments depending on your banks processes. So, it is worth checking you have funds available in your account after a failed attempt. We never get this money, it is held by your bank.

A screenshot of a failed payment screen.
Payment failure (scroll down to retry)

Making a regular payment by setting up a Direct Debit

If you have chosen to make a monthly payment through our onboarding journey, or you are a returning customer wanting to edit it, we can help you.

Once you have chosen your investments, you will be asked to fill in one, or both of the following entry fields for a single payment and/or a regular payment.

If you want to pay in regularly, we can set up a direct debit for the amount you enter in the Monthly amount field.

Enter your bank details.

Once you have provided us with your personal information, you will be asked to enter your bank details; account number, sort number, and relevant names associated to the account.

There is not much more you need to do...

Once you have entered your bank account details, you can press continue to review and confirm your payment.

At this point we will set up your Direct Debit with your bank and confirm this through documents that you can see once you log into your account.

Please bear in mind that Direct Debits have a time delay when setting them up. Your bank needs 10 working days before the next payment run to confirm the payment.

Be prepared if you're making changes.

We take all regular payments at the same time on the 2nd of every month, this is what we call the collection date. If the 2nd is a weekend or a public holiday, the payment will be taken on the next working day.

If you want to make changes to your regular payment, you will need to make them 10 working days before the collection date. You can find more FAQs on editing or changing regular payments here.

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