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Q:

How do I make a sterling Inter Account Transfer (IAT)?

A:

To create a sterling Inter Account Transfer follow the steps below.

Step 1 - Select payment type

Select 'Payments' from the left-hand menu. This will open the 'Make payments' screen. In the 'Inter Account Transfers' section, select ‘Sterling IAT’.

Step 2 - Enter transfer details

Debit account
The sort code and account number of your default account are shown automatically. To change this to another registered account (or to set the default), click on the magnifying glass and select the account you want to use.

Payment date
This defaults to the earliest possible date the payment can be made. To specify a later date (up to 180 days in advance), click the calendar.

Payment amount
Enter the amount in figures, with decimal point, but no currency symbol, for example, 527.99.

Debit account narrative
Enter any reference you want to use to identify the payment, for example, invoice number.

Step 3 - Enter credit account details

Account details
Enter the sort code and account number of the account you want to credit. Or click on the magnifying glass to see all the accounts linked to your user profile and select the credit account from this list.

Credit account narrative
Enter any reference you want to use to identify the transfer.

Step 4 - Check and confirm transfer

Select 'Make transfer' at the bottom of the screen. Check all details are correct. If not, you can edit them at this point. (If you don’t want to submit the transfer yet, select 'Save transfer' instead.) Select 'Confirm'.

If your transfer exceeds your IAT Smartcard trigger value (this has a default value of £100,000) your transfer will now be awaiting approval. If you have dual authorisation enabled and your transfer is below your Smartcard trigger value the transfer will just need to be confirmed by two authorising users, if your transfer is above your Smartcard trigger value they will need to authorise with a Smartcard and reader.

If your transfer doesn't require dual authorisation and doesn't exceed your trigger level, the transfer will have been made if for today's date or will be made on the date you selected if future dated.

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