This article will explain how to set up a bank account within a SIPP holding.
You will firstly need to locate the SIPP holding and the trustee account created, please refer to the relevant articles for more information.
Select Contributions from the left hand menu: To move money from the trustee account select Allocate Contribution at the bottom right of the screen. You will be asked if you are allocating to a New Holding or Existing i.e does the holding/bank account already exist within the SIPP on CCD. In this example we have a new SIPP record so no holdings have been setup. Once you select New Holding the following message will appear:
In this example we are selecting Bank Acct. The following screen will be displayed to set up the bank account: Complete the details of the bank account. Remember to update the trustee account balance if relevant by select Auto fill at the bottom right of the screen.
Once all details have been completed select Add Contribution at the bottom right of the screen. You will need to select if this is to be New business or Info only.
You will be taken through to the holding record for the bank account where further information can be added: To return to the full SIPP record select Switch to full SIPP at the top right of the screen. You will be returned to an overview of the bank account screen within the SIPP.
SelectingContributions from the left menu will display the trustee account screen detailing the decrement into the bank account: