Methods of payment
The tear-off section of a debit note or statement of account should be used as a remittance advice. Cheques should be made payable to Bar Mutual Indemnity Fund Limited. If Chambers is paying collectively with a Chambers' cheque, the Chambers' reference number should be written on the reverse of the cheque, and sent to the Managers with a list of the Members whose contributions are covered by the cheque.
Bar Mutual accepts payments directly into its bank account. Members should insert their Membership Number in the reference section. Bar Mutual’s bank account details are as follows:
|Bank:||National Westminster Bank plc|
|SWIFT code:||BIC NWBK GB 2L|
|IBAN:||GB93 NWBK 50 00 00 15427625|
Credit and Debit Cards
Bar Mutual can now accept payment by credit and debit cards - but only for members who renew online. Payment may be made direct to its bank (quoting the barrister's Membership number). See 'Bank Transfers' above.
Bar Mutual has established a facility with Premium Credit Limited (“PCL”) to enable Members to pay their premium in six, monthly direct debit instalments. Members must enter into a credit agreement with PCL to use this facility. Members using this facility must tick the appropriate box on the Renewal of Cover Form. After the facility has been set up it will be used continuously unless and until the Member instructs Bar Mutual otherwise.
Interest is chargeable on late payments. Interest is levied at a rate of 1% per month and subject to a minimum charge of £10. Members who fail to pay their premiums may be reported to their Head of Chambers and the Bar Standards Board. Members who have genuine difficulty in paying their premiums should contact one of our Administrators.