Everything you need to know about… Updating your bank details

Registering and updating your bank details with Skiddle is crucial. If they aren’t there, we can’t send you the funds you made from your event. 

If you happen to change banks or, for some reason, need to update your bank details, your remittance will go to the old bank account. That means we’ll have to wait until the bank gives us the funds back, which can take up to a week. 

If we have to resend your fees due to incorrect or incomplete bank details, it will cost £8.33 + VAT. This is known as a bounced remittance payment. 

Taking all this into account, we’ve put together this piece, which will tell you everything you need to know about updating your bank details. 

Adding your bank details

Head to the Beta Promotion Centre and click the ‘Finance’ tab, located down the left hand side of the dashboard. From there, click the ‘Bank accounts’ tab, as shown below. 

When you click on the ‘Bank accounts’ tab, you will be taken to a page that allows you to add a bank account. In the image below, there are no bank details, so everything is blank.

When you click on the ‘Add a new account’ button, you’ll be taken to this screen below.

Updating your bank details

You’ll be able to update your bank details once you’ve added them. The process to get to the image below is the same as above. However, the screen changes once there are details in our system. 

To update your bank details, click on the three dots shown in the above image. You’ll be given the option to click ‘Edit’ or ‘Suspend’. Click ‘Edit’.

Updating VAT Details

Below the ‘Bank accounts’ section is ‘VAT details’. If there aren’t any details here, you’ll be asked to tick a yes/no box to answer whether your business is VAT registered, then asked to provide your VAT Number. Once you’ve completed this, you can hit ‘Save VAT details’. See the image below for an example.

You’ll need to set your VAT details and VAT number for billing purposes. Then, you’ll be required to complete an HMRC-compliant Self Billing agreement so we can issue invoices for kickbacks (a rebate of the booking fee) automatically on your behalf. VAT details are a legal requirement so HMRC records are kept up to date. If your situation changes, please update your details as soon as possible. 

Once this is completed, we’ll pay your kickbacks automatically in our weekly remittance run.

Got a question you need an answer to? Give us a call on 03333010301 or ask us a question over on our Skiddle Promoters Twitter account by clicking or tapping on the button below. Alternatively, you can also find a list of our most frequently asked questions over at https://help.promotioncentre.co.uk/