Redeeming Funds

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How do I redeem funds from my SNAP Account?

You can redeem some or all of the Available Balance in your SNAP Account (subject to the applicable minimum), at any time, by logging into MySNAP , clicking on 'Redeem' and completing the redemption page.

In the redemption page, you can nominate whether you wish to receive a Cheque, in which case we will require your name and address, or a Bank Transfer, in which case we will need your Bank Account details.

The minimum amount that can be redeemed is £10, and you must have at least £10 available balance in your Account.

Funds can only be redeemed in pounds sterling.

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I tried to redeem my funds but was not allowed to

We will not authorise a redemption if

  1. there is insufficient Available Balance to redeem the amount you requested; or
  2. the available balance is less than £10; or
  3. the amount you asked to redeem is less than £10.

It is possible that our system may authorise a redemption that we are unable to complete as a result of

  1. the bank details provided being incorrect; or
  2. more than the permitted £650 per annum being redeemed to that specific Bank Account; or
  3. more than the allowed £650 per annum being redeemed as cheques to the postal address provided.
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I haven't received the redemption cheque

It is possible that the cheque was lost in the post. Please contact us with the details and we will cancel the original cheque and forward another one to you.

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