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Why would I need to change a member’s payment source?

You may need to move your members into different payment sources from time to time. This may be because a member has changed their position within your company, for example they’ve decreased hours or moved job location. This could also be because you want to pay for the member with different bank details.

If you want to switch your payment method, for example, from Direct Debit to debit card. You can do this by changing the detail in the payment source itself, rather than moving the members on to a different payment source.

Please note that if you decide to change your payment source you’ll need to ensure the new payment source is active before you make the change.

If you’re authorised to set up the Direct Debit online it will take six working days for the Direct Debit to become active.

If you’re not authorised to agree the Direct Debit because you’re not the account holder, you can ask the person who is to authorise it online themselves if they have a NEST account login already. If they don’t have their own NEST account login you can add them as a delegate and ask them to authorise the mandate through their online account.

If more than one person needs to authorise the Direct Debit you’ll need to send us a paper mandate form with both signatures on it. You can print the mandate from our website or your secure online mailbox. We’ll send a copy of the mandate form to your online mailbox within 24 hours after you’ve completed setting up with NEST.

There’s no need to correct or change any of the information on the mandate. If you correct or change information it may void the mandate which could mean that we might not accept it.

Please send the mandate to us at NEST, Nene Hall, Lynch Wood Business Park, Peterborough, PE2 6FY as soon as possible. It’ll take five working days for us to process the paperwork and then six working days for the mandate to become active.

Please note, you won’t be able to make contributions until your payment source is active.

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