Payments Enhancements FAQs
We are currently in the process of upgrading our payment engine which will have a number of enhancements that you may see. The changes will be introduced on a phased basis.
Sterling Current Account Payment Changes
Starting in July 2020 you will see a number of changes in how payments and associated processing fees appear on your ledger and account statements. You will see these changes for manual payments that debit your Sterling Current Account (NSC238590) and for incoming payments to this account.
- Outgoing Payment Reference
- Incoming Payment Reference
- Removal of Incoming SEPA Payments to Sterling Current Accounts
What is changing for incoming payments?
From April 2020 on a phased basis you will see the following changes.
- Payment Reference
- Paper Advices for Incoming International Payments
- Paper Advices for Manual Payments
- Payment Fee Removal for Incoming EURO from SEPA zone
- Incoming Payment Advice
What is changing for outgoing payments?
- Payment Reference
- USD, GBP, EUR and CAD Next Day Value for Paylink Standard option
- Paper Same Day Value Payment option via the Branch merging with Paper Paylink Euro
- Paylink/Paylink EURO Forms
- Payment Advices for Payments made via the branch
- Transaction Fee
- When you use Internet Banking to pay to certain countries, you need to use the Receiver Bank Code
- What is a Receiver Bank Code?
- Payments to non-SEPA Reachable Payees Submitted via the Branch
SEPA Destinations
- Andorra and Vatican City are becoming part of SEPA
- Outgoing Payment Reference
- Incoming Payment Reference
- Removal of Incoming SEPA Payments to Sterling Current Accounts
As a result of the above changes, the following Brochures will be amended in January 2019. The current versions are available below.