Online payments and transfers

With Bankline, payments and money transfers are simple to manage and quick to process.

Payments and transfers can be entered any time and processed whenever suits you - immediately, the next business day, or on the date you choose. You can also view all payments and inter-account transfers that have been confirmed, with a real-time status of the transaction progress.

Payments

Domestic payments

With Bankline your business can make urgent payments using CHAPS, Faster Payments or Bacs.

• CHAPS - the UK's electronic same-day settlement network for commercial and inter-bank payments.
• Faster Payments - the latest UK payment service for immediate payments under £100,000.
• Bacs – a three-day service suitable for less urgent payments. Simply create bulk lists to process multiple Bacs payments, and produce remittance advice slips using company letterhead.

International payments

Making international payments through Bankline is easy, safe and secure.

When transferring funds between any of your sterling and currency accounts registered in Bankline, you have the flexibility to choose the currency you wish the transfer to be made in.

And for international payments or currency inter-account transfers you are able to book a foreign exchange rate in advance, or simply let Bankline automatically book a rate for you.

Find out how to start making international payments in our payments user guide (PDF, 670KB).

Transfers

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 RBS 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 or BACSTEL- IP format.

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