On our new system fees are deducted from your clients’ accounts on the anniversary of the day they client opened their first account with us. On our previous system fees were deducted on the anniversary of when each account was opened.
For customers with multiple accounts that were opened on different days, this will mean a change to the day their fees are deducted on at least one of their accounts. This means that the period between fee deductions, either side of migration, may be shorter or longer than usual. As fees are accrued daily, the amount you are paid will accommodate for the difference in time between fee deductions.
In future your fees will continue to be deducted on the new deduction date, so the effect of this change will only be limited to a short period after migration.