The three ways to make top ups

Beanstalk makes it really easy to make a one off top up to someone for whom you are saving, be it your child, your grandchild or yourself. Here's how it works.

The three ways to make top ups

Beanstalk makes it really easy to make a one off top up to someone for whom you are saving, be it your child, your grandchild or yourself. Here's how it works.

On the Beanstalk app, just click top up for the person you would like to make a contribution to (you can also click top up in the tools menu). You can set the amount of the top up and add an optional message if you would like.

We then ask you to choose how you would like the contribution to be made. We offer three different ways:

Instant bank transfer. This is the simplest and fastest way to make a top up and uses the government backed “open banking” scheme to allow you to send the contribution immediately using your bank's online banking or app service. We work with the FCA authorised payment innovators, tomato pay, to power this. First select the bank you use, and then you will be taken directly to your bank where you can log in and authorise the payment which will be transferred almost immediately. It's that simple!

Bank transfer. This requires you to arrange the transfer yourself. We provide you the details for the transfer (sort code, account number, reference) on the app and by email and you can then arrange to send the payment at your convenience. NB: It is very important you use the reference we give you so we can allocate your top up to the correct account and you must make the payment from an account in your name.

Direct Debit. We will collect your top up by Direct Debit and will email you to notify you when the top up will be taken. We collect Direct Debits once a week and scheme rules require us to provide you with at least 5 working days notice so the top up could take up to ten days to collect.

A quick note on when you will see the top up in the app

Contributions made to Beanstalk are paid into a "pooled" client money account held at our platform provider TPS (a client money account is a protected account operated under FCA rules which separates money belonging to customers from that belonging to us or TPS).

TPS allocate money to your specific Beanstalk account several times during the day so you will not see it in your account until after this process. You will normally see it by end of the day, but top ups made at the end of the day or at the weekend may not show until the next working day.

AS WITH ANY INVESTMENT THE VALUE CAN GO DOWN AS WELL AS UP. PAST PERFORMANCE IS NO INDICATOR OF FUTURE PERFORMANCE. THE TAX TREATMENT OF ISAS DEPENDS ON YOUR INDIVIDUAL CIRCUMSTANCES AND MAY BE SUBJECT TO CHANGE IN THE FUTURE.

Beanstalk is the newest member of the KidStart family. KidStart is the shopping club for parents that has been helping families save for their children for over 10 years and has helped thousands of families save millions for their little ones.