Is there a UK Pension Provider that will take a payment from Wise Business account

cousingreg

I have a small business and I want to open a pension for myself. I tried to open one with Vanguard but they cannot take payments from banks not registered in the UK, like Wise Business. I do all my business banking through Wise and they are fantastic. Before I go around emailing all the pension companies, does anyone know of good pensions provider who can take payments from my Wise business card? Thank you kindly in advance.

Marcon

cousingreg said:

I have a small business and I want to open a pension for myself. I tried to open one with Vanguard but they cannot take payments from banks not registered in the UK, like Wise Business. I do all my business banking through Wise and they are fantastic. Before I go around emailing all the pension companies, does anyone know of good pensions provider who can take payments from my Wise business card? Thank you kindly in advance.

I thought Wise was a fintech company rather than a bank? If that's so, I wonder if it's worth turning the question around and asking Wise whether they currently pay to any UK pension providers?

Adyinvestment

Open up a "high street" bank, transfer the cash there first.

tacpot12

Adyinvestment said:

Open up a "high street" bank, transfer the cash there first.

While this is a reasonable suggestion (given that Wise isn't a bank), it can be very hard to find a business bank account that doesn't charge at least £5 per month. This may be more than it is worth to you.
 
I'm not familiar with the Wise Business Card, although I have looked it up and it appears to be form of Mastercard. Whether it is a credit card or a debit card could be very important if you are to find a pension provider that accepts payments from it. Your question could be a simple as is there a pension provider that allows me to pay into my pension using a Mastercard Debit (or Credit card). I think most pension providers will allow you to make one-off payments using a Mastercard Debit card. I'm not sure about Credit Cards. 

But if you want to setup a regular payment from the card I think you will struggle to find any provider that will provide this facility. It's not something that many customers want, so they don't go to the trobule of developing a solution to allow it. 

Hope you find a way to pay into a pension. It's important to save for your retirement.