Collecting payments

• Direct debiting via BACS
• Cash and cheque deposits
• Card payments

Making payments

• Direct crediting
• Cash and cheque payments

Card options

• Corporate cards
• Online card management

Managing payments

• Bankline
• EasiRec
• Positive Pay
• Datalink

Payment initiatives

• Changes to UK payments
  • Faster Payments
  • Cheque clearing
  • Single Euro Payment Area

Supporting faster payments

The Faster Payments Service allows banks to provide same-day clearing of electronic payments such as fund transfers, bill payments and Standing Orders. Bank customers can now make low value payments on a near real-time basis.

The new Faster Payments Service runs alongside Bacs and CHAPS, which continue unchanged.

Same day payments

For eligible inter-bank payments, the new service reduces the time between a payment being made and the recipient receiving the funds from three days to near real-time.

The new Faster Payments Service accepts same-day transactions all day, every day and processes single payments in near real-time, provided funds are available and the payments meet scheme rules. Diarised and Standing Order payments are now processed in the early hours of the morning, again on a same-day basis.

Using the Faster Payments Service

The Faster Payments Service went live on 27 May 2008. Our customers can use Bankline, our internet banking service, to view and make Faster Payments.

The service gives customers the flexibility and convenience of moving money between accounts or paying bills at any hour of the day or night.