A bank transfer includes all payments made by either Bacs, CHAPS or faster payments in the UK.
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We do not accept bank transfer payments as part of our core proposition, that’s why we apply a charge if you do wish to use this service.

Please note, that Smart Pension reserves the right to make changes to the fees described above at any time subject to a one month notice period. You should also be aware that the above monthly fees apply regardless of whether contributions are paid on time.

On top of the fees described above, we also apply a £50 +VAT charge for each time we have to rework any of the contributions. For example, you’ve paid an incorrect amount or you have paid the wrong account.

Setting up a Direct Debit is free and easy to do. It is also the quickest way to schedule pension contributions.

Watch our short video and set up your Direct Debit in a matter of minutes. Or read our help article here.

If you’re an overseas employer and/or struggling to set up a Direct Debit, you can set up a Direct Debit by using Revolut, Tidal or Wise. Find out more here.

1. Apply to use bank transfer using the steps underneath the ‘How to apply’ section below

2. Once your application has been accepted, we will confirm the bank details and the correct payment reference to use when paying both the fee and the pension contribution amount.

3. We will invoice you every month by email to confirm the fees payable (plus VAT if you’re a UK employer). You will have 30 calendar days to make payment.

4. It is your responsibility to make sure that Smart Pension receives your pension contributions by the 22nd of each month. Please be aware that if you pay by Bacs it will take at least two days for a payment to clear.

We reserve the right to charge additional fees if we have to do further reconciliations outside of the above tasks.

Please note that the receipt to Smart Pension must match the contribution amount, therefore you must accept all charges associated with the transfer. This also applies to overseas customers making payments.

The quickest way to get an answer to your question is by reading our frequently asked questions.

Get in touch if you have any questions by emailing us at bacs@smartpension.co.uk.