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Q:

Routing rules for payments

A:

Payments input via the Standard Domestic option will always be routed through the Faster Payments system.

Your payment will be sent on the date you requested if:

  • The beneficiary sorting code can accept Faster Payments
  • The amount of the payment is within the service limits of £250,000

The value you enter for the ‘Date payment to arrive’ will determine if an Immediate, Next Day, or Future Dated Faster Payment is sent. Each of these has its own tariff which you can check by selecting View Notification from the left hand menu.

Faster payments is a near real time system. A payment will be received by the beneficiary almost immediately after leaving your account, though sometimes it may take two hours.

Note - the beneficiaries Bank may not make funds available to the beneficiary on this date.

If a payment is over £250,000 it will need to be made as a CHAPS.

Please note: The Faster Payments limit within Bankline was increased from £100,000 to £250,000 on the 5th November 2016.

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