Transact Online (TOL) – Recent Enhancements

This month we have made updates to the following:

• Bed & ISA/Pension – This handy feature captures three instructions in one click. As highlighted in last month’s Adviser Update the process in the background has changed slightly. To confirm, a Bed & ISA/pension is executed in the following order:
  1. There is a sale (in GIA).
  2. The sales proceeds are transferred (to ISA or Pension).
  3. The investments are repurchased (in ISA or Pension).Remember to not to leave this too close to the end of the tax year.
• Bank Accounts – Another paper process bites the dust! Clients can now add their nominated bank account via TOL. They need to have a verified email address and mobile phone number in order to complete the process. This new feature is for adult individual portfolios via the desktop version of the website. Other accounts will follow as well as the ability for clients to manage this via our mobile website.
• UFPLS withdrawals to a GIA – For many years you have been able to instruct Uncrystallised Funds Pension Lump Sum (UFPLS) withdrawals from the client’s accrual pension to their nominated bank account. Now you can instruct that withdrawal to their GIA.
• Transfers – When working with transfers, the correct data leads to the fastest transfer. We have made a slight change in the Illustration pages to encourage you to provide the ceding provider. The correct ceding provider will result in an electronic transfer request (in the majority of cases). Electronic transfers are usually significantly faster than paper-based transfer instructions.
• API – In the past we referred to our data services (e.g. valuation data to software providers) as TRDS. Our data services actually use application programming interfaces (APIs), so we are now using the more widely recognised term of API.
• Guided Applications – We will let you know that certain wrapper/contribution types are not available for selection when the client’s residential address is in an European Economic Area (EEA).
• Report Volumes – We have increased the number of combined personalised illustrations, investor reports, money maps that an adviser/firm login can save from 500 to 1000.

If you need any help on any aspects of our service, please use Live Chat for a quick response, co-browse to screen share so that we can direct you or call our highly trained, dedicated Sales & Online Support team who support these functions via (020) 7608 5387.

1. Introduction
2. Transact Online (TOL) – Recent Enhancements
3. Electronic Fee Reconciliation Data
4. COPS Update
5. Clients Can Add Their Nominated Bank Account Details via TOL
6. Share Class Conversion
7. Transact- BlackRock MPS Events
8. The Trust Registration Service (TRS) Challenges One Year On
9. Fund Changes
10. Interest on Cash Deposits
11. Transact Events 2023