Newbie investing question

heterodyne76

I have a newly opened Barclays investment ISA and am I right in thinking that in order to set up a regular investment I need a direct debit to fund the account and then a second order to state what I want to invest it in?

Is there no way to do it in one step?

Thanks.

winkowinko

I'm not familiar with Barclays Investment platform, but there must surely be a way to set up a recurring order of your preferred fund.

heterodyne76

It's so confusing. I've found a setting to set up a direct debit, but it didn't ask me for an amount I want to set up a direct debit for! It now says my direct debit is pending and will take 10 days to set up.

I'll obviously chalk it up to me being a complete investment novice but I think I've probably made a mistake choosing Barclays as my first dip in the water.

DRS1

No idea about Barclays but on SWSD (ex Iweb) it is a two step process. First set up regular payment then set up regular investment. Personally I find that quite OK as I don't want to be paying any more money into an ISA which is already full for this year. So I can miss out step one and just do step two.

EthicsGradient

https://forums.moneysavingexpert.com/discussion/comment/82034104#Comment_82034104

A direct debit is not limited to one fixed amount. It's permission for Barclays to pull whatever it wants from your current account. The amount, and what it is invested in, will be determined separately, and you'll be able to change it, many times if you want. This will be more or less the same with any platform.

Nurse2047

I invest with vanguard, fidelity, trading 212 monthly and can set up your investment monthly- sorry don’t know re Barclays but should be possible