How do I set up a Conditional Split Rule?

📘

Conditional Split Rule

Split a defined percentage of any incoming payment to a destination until a defined amount is met, then make onward payments elsewhere.

Eg: Each time a payment arrives, send 2% to Beneficiary A until £5,000 has been collected. Once that amount has been met, send the payments to Beneficiary B.

The Payment Rules setup screens are accessed by navigating to any account, and selecting 'Account Options' – choose 'Rules on this Account' from the menu displayed.

1. From the 'Rules on this Account' screen, select 'Create a rule for this Account'
2. Select 'Conditional Split' from the rule type options displayed
3. Select 'Create'
4. On the form displayed, give your Rule a meaningful name that will help identify it
5. In the 'Split destination' field, select or enter the Beneficiary you wish the split funds to be sent to – this will need to be a Beneficiary you have already set up.
6. Enter a value that you want the Splits to achieve before they are diverted somewhere else (or remain in the Account) when the value has been met
7. Optional – Enter a Beneficiary and percentage amount where you would like to send funds after the amount has been met
8. Select 'Create'
9. The Rule summary can be viewed in the 'Rules on this account' screen

Note: You can add more than one Split destination and percentage if you need to – each payment that is paid in can be split into defined percentages and sent to multiple destinations. Just select 'Add another split destination' and complete the fields as above.

See also

How do I set up a Split Rule? →
How do I set up a Sweep Rule? →
How do I set up a Funding Rule? →
How do I edit a Rule's settings? →
How do I delete a Rule? →