Payments and transfers

With Bankline, domestic and international payments are simple to manage and quick to process.

Payments and transfers can be entered any time of the day or night and are processed the next business day, or on the date you choose.

It’s possible to search for and view all payments and inter-account transfers that have been confirmed, with a real-time status of the transaction progress.

Domestic payments

Your business can make urgent payments on Bankline using CHAPS, the UK’s electronic same-day settlement network for commercial and inter-bank payments.

For less urgent payments, Bankline provides a three-day BACS service. Simply create bulk lists to process multiple BACS payments, and produce remittance advice slips, with the option of using company letterhead.

Inter-account transfers (IATs)

Your business can transfer funds between sterling and currency accounts registered on Bankline 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.

If your business holds accounts with The Royal Bank of Scotland and NatWest, you can transfer funds between these accounts as a single domestic BACS payment.

Templates

If you make regular payments to the same beneficiary, you can save time by creating a template for future use. It’s also easy to create a template for regular IATs.

Payments created in your accounting systems can be imported into Bankline in a Comma Separated Variable (CSV) file format.