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Payments
Pay online swiftly and securely
Why use electronic payments?
Make and receive fast, secure, and cost-efficient payments directly to and from your business account. We provide flexible payment solutions that enable your business to trade effectively in the UK and around the world.
Fast
We utilise the latest technology and payment standards, helping you to pay and be paid quicker.
Secure
Electronic bank-to-bank links offer your business security and reliability.
Convenient
Make and receive payments online or by telephone.
UK payments
UK banking industry standard for simple, speedy and secure banking solutions to help businesses transfer and collect payments.
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What you'll need:
- Correct sort code – the six-digit number which identifies the bank or institution at which the payee holds their account
- Account number of the payee account. Incorrect sort code and account number details may result in your payment not being processed.
Faster Payments
The Faster Payments service reduces the time between making a payment and the recipient receiving the funds to near real-time.
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CHAPS
If you need to make a same-day payment through your Royal Bank of Scotland Business Account, you can also use CHAPS.
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BACS
Save time and money by making and receiving regular payments via Bacs with Direct Debits and Direct Credits.
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European payments
A cost-effective solution if you need to make a non-urgent Euro payment in the Single Euro Payments Area (SEPA).
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What you'll need:
- Beneficiary's name
- Beneficiary's SWIFT BIC (Bank Identifier Code)
- Beneficiary's International Bank Account Number (IBAN)
- Charges need to be shared between sender and beneficiary (SHA)
Please note: Norway, Iceland, Switzerland, Monaco, San Marino Liechtenstein, Andorra, Vatican are included in the Single Euro Payment Area (SEPA).
SEPA Credit Transfer
European Transfer to help your business trade internationally with ease.
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SEPA Direct Debit
Pay your European suppliers with ease using Direct Debit.
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International Transfer using Euro currency
Pay your European suppliers faster using International Transfer.
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Receiving overseas payments
Receiving overseas payments in Euro currency.
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International payments
Reliable, secure and fast way to send funds overseas or make foreign currency payments within the UK.
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What you'll need:
- Beneficiary's name
- Beneficiary's SWIFT BIC (unique Bank Identifier Code)
- When available, Beneficiary's International Bank Account Number (IBAN)
- When IBAN not available please use the beneficiary sort code and account details.
International Transfer
International Transfer to help your business trade internationally with ease.
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Currency Payments
Currency Payments service for you to pay and be paid in all the world major currencies.
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Receiving overseas payments
Receiving overseas payments from all around the world.
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How to stay secure
Although they are more secure than other, more traditional payment types, there are still some things businesses should do to ensure they are protected.
Maximise your security
Electronic payments can have great benefits, but it's important to make sure they are secure.
Help protect yourself from loss
There are additional steps you can take to protect your business, such as ensuring your computer is installed with some form of Antivirus software.
Undertake regular reviews to ensure that only staff who continue to have a legitimate need are able to make payments on behalf of the business. Services such as *Bankline allow you to define what specific tasks individuals are allowed to perform, and you can make payments subject to dual authorisation, so that no individual is able to key and authorise a transaction without independent oversight.
*Bankline is available to Royal Bank of Scotland business current account customers. Fees may apply.
Always consider the reason for your payment to make sure you aren't being scammed. Fraudsters can be very convincing however it's always worth taking five minutes and challenging something if it isn't right.
How do I recover funds for a payment sent in error?
To attempt to recover funds for a Faster Payment or BACS payment sent in error, you can fill out the form below. Please read the form carefully before you complete it.
Make sure you leave enough time for your payment to bounce back to your account, before submitting the request:
- Faster payments: One working day
- BACS: 4 working days
Remember, this process is just for:
- Faster Payments and BACS payments.
- Payments sent in error (it can't be used to reclaim funds for disputed payments)
- Single payments over £25
We can't guarantee that we'll be able to recover your funds, but we'll process your request and try to get back in touch within 20 days.
We recommend you try contacting the payee first to ask about recovering the funds, as this is usually quicker than the formal credit retrieval process.
To try and recover CHAPS or international payments you'll need to speak to your customer service team.