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Q:

What are the different types of Bulk Payments?

A:

The types of Bulk Payments are:

  • Standard domestic Bulk Payment - allows you to make payments to multiple beneficiaries from a single debit account via Faster Payments. Bankline shows these as:

    Immediate Bulk Payments (IBULK)
    Next Day Bulk Payments (NBULK)
    Future Dated Bulk Payments (FBULK) 

  • Bulk Inter Account Transfer (IAT) - allows you to transfer funds to multiple sterling credit accounts from a single sterling debit account. Bankline shows this as BIAT.

 

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