When you receive payments through ‘Pay by bank’, we’ll collect a fee of up to 1.50% of the total transaction. The maximum fee you can pay is £25. workplace pension scheme for employees to save for their retirement. At the moment, we only connect directly with Nest Pensions, but you can still use another provider, if you prefer.
You can see the fees applied to a transaction in its details
We won't charge your customers for using ‘Pay by bank’, however, their financial institution may apply fees, based on their own terms and conditions.
Where can I see the fees for my ‘Pay by bank’ transactions?
Be aged 22 to State Pension Age.
Earn least £10,000 gross per year (£833 per month or £129 per week)
In the app, there are two ways:
1. Go to ‘Get Paid’ > ‘ Manage Payment Links’ > ‘Paid Links’ > select a transaction > tap ‘Settled on’
There you’ll be able to see two sums:
5% paid by the employee
3% paid by the employer
UK law requires a minimum of 8% of the employee's salary to be contributed to pension, but it can be more.
The amount you collected
The amount after fees have been deducted
2. On your timeline, you’ll see two consecutive transactions: the payment you received from your customer, and the deducted fee.How do I connect Tide Payroll to Nest Pensions?
Admin > Payroll > Settings > Integrations > Nest Pensions and follow the steps from there.
Then to configure your pension scheme: Admin > Payroll > Settings > Pension > Configuration
Can I connect Tide Payroll to another workplace pension provider?
Not at the moment, however, if you prefer a different pension provider, you can still adjust your pension to match the configuration of your chosen provider, by going to: Admin > Payroll > Settings > Pension > Configuration
You’ll need to export the Pensions and Payroll Data Interface Standard (PAPDIS) files and upload these to your provider’s platform.
For the download, head to: Admin > Payroll > Settings > Downloads > Pensions > Download the PAPDIS.csv file for the relevant period
