Where you wish to support your customers to make and receive payments directly from their own accounts, having one or more dedicated sort codes may be necessary.
Royal Bank of Scotland will consider requests for sort code sponsorship from the following organisation types as defined by the Payment Services Regulations 2017:-
- Authorised payment institutions.
- Small payment institutions.
- Electronic money institutions.
- Credit institutions.
- The Post Office Limited.
- The Bank of England.
- Government departments and local authorities.
- Registered account information service providers.
Royal Bank of Scotland will assess the needs of all applicants and their capabilities to operate through a separate sort code and adhere to payment system rules and procedures. In such cases where sort code allocation is not appropriate institutions may still be eligible for banking and payment services from us.
We retain the right (without any liability) to assess both you and your customers’ ability to operate within relevant payment scheme rules and procedures.