Monthly payments made by Direct Debit will show in your Nutmeg account 3 working days after the amount is debited from your bank account.
We will aim to reflect Direct Debit payments in your account from the afternoon/evening on the second working day after your payment is debited from your bank account, however depending on the timing of payments and processing this may not always be possible.
We appreciate this may seem like a lot of time to send some money over, but the banking system is pretty old — the Bacs payment 3-day cycle was designed in the 1970s — and how it's set up right now means that's how long it takes to reliably receive and show your money in your account, and, unfortunately, there's not much we can do about it. Yet.
If you selected your payment date as the 21st of the month, and the 21st falls on a Monday this month, your payment will be debited from your bank account on the Monday. The payment would show in your account 3 working days later, in this case on Thursday 24th.
If the 21st of the month happened to fall on a weekend or bank holiday, the payment would be debited on the next working day. So if the 21st was a Saturday, your payment would be debited on Monday 23rd on that particular month, as long as it wasn't a bank holiday. The payment would show in your account on Thursday 26th. The following month, if the 21st landed on a Tuesday, the payment would be debited from your account on the Tuesday and show in your account on Friday, 3 working days later.
Once cash arrives it will be invested on our next twice-weekly investing cycle.