Bankline Direct is available to Royal Bank business account customers who meet the specific eligibility criteria detailed below. Fees apply.
Bankline Direct could be ideal for organisations who have outgrown other solutions. It can automate your payments or reconciliation. You can also view or transact with accounts held at multiple banks or other financial organisations.
Increase accuracy and help reduce costs with an automated solution
Seamlessly integrate with your Treasury Management System (TMS) and Enterprise Resource Planning (ERP), including third party bureaus.
Reduce manual tasks with straight through processing of high volume domestic and international payments and comprehensive payment status updates
Increase visibility and control over your financial position with automated reports, at different frequencies, for your reconciliation needs
Securely integrate with the bank via a variety of connectivity options, utilising file or message-based protocols, including a choice of industry standard formats
Safeguard your payment information and reconciliation data to and from the bank with industry standard security and encryption features
Flexible to your needs
You have the option to select our payments or reporting services, or both.
Payments and collections
Bankline Direct has a variety of payment options to meet your needs whether paying for goods and services in the UK or overseas. Formats such as CSV, JSON, XML ISO 20022, SWIFT MT and ISO8583 are available.
With domestic payment options available through both Faster Payments (for payments under £1,000,000) and CHAPS (for high value same-day payments with the UK) Bankline Direct is designed to get your money where you want it, quickly and securely.
We also offer international payments, inter-account transfers, bulk lists, SEPA Direct Debit origination, and Bacs payments through AutoPay Direct.
Bankline Direct has comprehensive reporting capabilities, sending you information that you can use automatically within your own systems.
Account information reports (statements) will provide information such as balance and transactions details. We offer a range of industry standard formats such as SWIFT MT and IS0 20022 XML.
Want to reduce manual tasks and inefficiencies?
Accelerate your payments and receive payment notifications and data for reconciliation in real-time on a secure, 24/7 connection method, using our suite of APIs for Corporate customers.
Secure file OpenClose
Who is Bankline Direct for?
- Cost effective channel to streamline your cash management processes
- A secure channel for exchange of Treasury messages and files
- A 24X7 payment and reporting solution to support your growing business
- Ability to monitor the progress of your payments through detailed acknowledgements and reporting
For financial institutions
- A single channel for sending and receiving files
- Send and receive Bank Grade and Non Bank Grade payments
- Connectivity with 24/7 availability for an easier, quicker alternative to access Faster Payment Scheme
- A dedicated UK sort code, sponsored by NatWest, providing indirect access to UK clearing schemes
- Meet regulatory requirements for your reporting needs
Client eligibility and fees
You can use Bankline Direct if you meet the following criteria;
Meets MiFID criteria for Professional Client or Eligible Counterparty; OR
Average turnover for last 3 years ≥ £6.5m; OR
Average total assets for the last 3 years ≥ £3.26m; OR
Is part of a group connection that meets turnover or assets test
Hold UK accounts
Minimum of 500 transactions per month
For clients wishing to use their own sort code (Indirect Access clients) to send/ receive payments they must;
Be FCA regulated/ EEA Passported
Have a Sort Code
Have a BIC; either a full live BIC or a BIC-21 (a BIC-21 is not a BIC connected to SWIFT but is needed in case of mis-formatted payments)
We charge a one off set up fee, monthly fee (dependent on usage), plus individual fees for making and receiving payments.
Interested in Bankline Direct? Get in touch
If you’re an existing client of the bank, its best to get in touch with your Relationship Manager directly.
If you’re new to the bank or prefer to register your interest, you can email your details using the link below and we’ll be in touch.
Ready for ISO 20022?
ISO 20022 XML (Extensible Markup Language) is an established global standard for payments messaging.
Business, commercial and corporate customers that make/receive UK, Euro and cross border payments will be impacted along with financial institutions, indirect access participants, partner banks, SWIFT Correspondents and SWIFT Corporates.