• What payment types does our Payments service offer?

    The application allows you to create several types of payments. These are also known as payment products. The various types are categorised into domestic, Euro and international payments. You organisation may have access to one or all of these categories.

    Domestic

    • BACS GBP Single
    • BACS GBP Multiple
    • CHAPS
    • Faster Payments
    • Domestic Internal transfer

    Euro

    • Euro money-mover
    • Basic Euro moneymover (SEPA Credit Transfer) / (SCT)
    • Euro Multi-bank moneymover
    • Euro Internal transfer

    International

    • International money-mover
    • International Multi-bank international moneymover
    • International Internal transfer

    Each of the payment types is explained below.

    BACS GBP Single & BACS GBP Multiple

    For sterling payments within the UK with three day value (via BACS). Accounts are debited only on the day the credit arrives at the destination bank account. Giving you use of funds until the last possible moment. Available for individual payments or for grouping together payments such as payroll or supplier payments.

    CHAPS (Clearing House Automated Payments System)

    Used for same-day sterling payments within the UK.

    Faster Payments

    Used for same-day Sterling payments up to a Value of  £99,999.99  within the UK.

    Domestic Internal transfer

    For payments or transfers within Lloyds Bank Commercial in sterling. The remitter and beneficiary of the payment must hold an account internally with Lloyds Bank Commercial.

    Euro moneymover

    For euro payments effected by Euro Payment System or via a correspondent bank. Typically paid same day but may take up to three days.

    Euro Internal transfer

    For payments or transfers within Lloyds Bank Commercial in sterling. The remitter and beneficiary of the payment must hold an account internally with Lloyds Bank Commercial.

    Euro multi-bank money-mover

    For payments from accounts held with other financial institutions where we have bi-lateral agreements. Can be used to order the movement of funds between your organisation’s accounts or in favour of a third party.

    Basic Euro money-mover (SEPA Credit Transfer) / (SCT)

    For non-urgent euro payments typically processed within three working days. Charges shared between beneficiary and remitter.

    International money-mover

    For currency or sterling transfers abroad and currency transfers within the UK. Paid in one to three days.

    International Internal transfer

    For payments or transfers within Lloyds Bank Commercial in sterling. The remitter and beneficiary of the payment must hold an account internally with Lloyds Bank Commercial.

    International multibank money-mover

    For payments from accounts held with other financial institutions where we have bi-lateral agreements. Can be used to order the movement of funds between your organisation’s accounts or in favour of a third party.

10/28/2021 9:46:20 PM