Your business can make payments using Faster Payments or CHAPS through Bankline Direct
- Faster Payments is a service for making payments under £250,000. You can request an immediate transfer of funds, or a future dated payment.
- CHAPS enables same-day high value payments to be made within the UK
International payments are those that are made overseas or payments sent within the UK in a non-GBP currency. This also includes SEPA credit transfers (euro next day).
Inter-account transfers (IATs)
Your business can transfer funds between sterling and currency accounts registered on Bankline Direct as often as you like. In most cases the transferred funds are visible and available for use immediately. Interest continues to be calculated on the closing balances of your accounts every day.
SEPA Direct Debit origination
The channel also supports the collection of Euro funds via. SEPA Direct Debit Origination (CORE scheme). SEPA Direct Debits can be collected from all SEPA countries into a single Euro account held at RBS.
Bulk Lists are payments involving a bulked single debit and multiple credits. A file can include multiple transactions of the same payment type and you can submit any of the following UK Domestic payment types in a Bulk List:-
- Immediate Faster Payments
- Future Dated Faster Payments
Bankline Direct supports Faster Payments, CHAPS and International Payments made and received on behalf of your clients. Details of payments made to your Sort Code are reported via the Bankline Direct service, enabling you to meet regulatory requirements for updating your clients’ accounts.