• Payment Product Types and cut-off times


    Table of Contents


    1. Payment Product Types and cut-off times

    1.1 Description of the payment product types

    Within the Payment management option the following payment product types are available.

     

     Payment Product Times and cut-off 1  

     

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    1.2 Payment types – Domestic GBP

    CHAPS (Clearing House Automated Payments System) 

    • For same-day Sterling payments within the UK.

    BACS GBP Single 

    • 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. 
    • Ability to make individual payments such as payroll or supplier payments.  

    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.
    • Ability to make individual payments or grouped payments such as payroll or supplier payments

    Domestic Internal transfer 

    • For payments or transfers within Lloyds in Sterling.
    • The remitter and beneficiary of the payment must hold an account with Lloyds.

    Faster Payments 

    • For same-day Sterling payments within the UK.
    • Up to a transaction value limit of £99,999
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    1.3 Payment types – Euro

    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.

    Basic Euro moneymover 

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

    Euro Multibank moneymover 

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

    Euro Internal transfer 

    • For payments or transfers within Lloyds in Euro.
    • The remitter and beneficiary of the payment must hold an account with Lloyds.
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    1.4 Payment types – International

    International moneymover 

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

    International multibank moneymover 

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

    International Internal transfer 

    • For payments or transfers within Lloyds in Sterling and foreign currency.
    • The remitter and beneficiary of the payment must hold an account with Lloyds.
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    1.5 Payment Type cut-off Times


    Payment Type Value/Processing Date Cut-off Notes Cut-off determined by currency 
    Domestic     
    CHAPSSame day17:25This cut-off time is dictated by the CHAPS settlement system.
    A warning message will be displayed at 17:20 to advise you are approaching the CHAPS cut-off.
    No
    BACS GBP Multiple & BACS GBP SingleWithin 3 working days17:00This cut-off time is dictated by the Lloyds BACS settlement process. BACS GBP are processed on day 3 (working days)No
    Domestic Internal Transfer (Sterling)Same day18:00Dictated by closing of LBG  processing areaNo
    Faster PaymentsSame day 17:45A warning message will be displayed at 17:40 to advise you are approaching the Faster Payments cut-off.No
    Euro     
    Euro MMSame day15:30Euro payment systems close at 16:00
    A warning message will be displayed at 15:30 to advise you are approaching the published cut-off.
    No
    Basic Euro MMNext working day16:00 No
    Euro Multibank MMWithin 5 working days16:00 No
    Euro Internal Transfer (Euro)Same day 16:00 No
    International     
    International MMUp to 3 working days.16:00To achieve same day value on 0 value day currencies it must be received before COB which is 16:00. However the currency cut-off always takes precedence.Yes 
    International Multibank MMSame day16:00 No
    International Internal Transfer (foreign currency)Same day16:00Same day value regardless of currency No
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    1.6 Currency cut-off Times


    Currency Code Value Date Cut-off PFE Currency STP'able DP Country, Currency Name 
    AED112:45YesYes2United Arab Emirates, UAE Dirham
    AUD115:45YesYes2Australia, Dollars
    BHD216:45YesYes3Bahrain, Dinars
    CAD015:45YesYes2Canada, Dollars
    CHF115:45YesYes2Switzerland, Francs
    CNY214:00YesYes2China, Yuan Renminbi
    CZK116:45YesYes2Czech Republic, Koruna
    DKK115:45YesYes2Denmark, Krone
    EUR015:45YesYes2Euro Member Countries, Euro
    GBP (Domestic)015:45YesYes2United Kingdom, Pounds
    GBP (Cross- Border)015:30YesYes2United Kingdom, Pounds
    HKD112:45YesYes2Hong Kong, Dollars
    HUF116:45YesYes2Hungary, Forint
    ILS215:45YesYes2Israel, New Shekels
    INR215:45YesYes2India, Rupees
    JPY115:45YesYes0Japan, Yen
    KES215:45YesYes2Kenya, Schillings
    KWD215:45YesYes3Kuwait, Dinars
    MAD215:45YesYes2Morocco, Dirhams
    MXN215:45YesYes2Mexico, Pesos
    NOK115:45YesYes2Norway, Kroner
    NZD115:45YesYes2New Zealand, Dollars
    OMR215:45YesYes3Oman, Rials
    PLN216:45YesYes2Poland, Zlotych
    QAR212:45YesYes2Qatar, Rials
    RON1 16:30YesYes2 Romanian Leu
    SAR112:45YesYes2Saudi Arabia, Riyals
    SEK115:45YesYes2Sweden, Krona
    SGD112:45YesYes2Singapore, Dollars
    THB315:45YesYes2Thailand, Baht
    TND215:45YesYes3Tunisia, Dinars
    USD016:30YesYes2United States of America, Dollars
    ZAR115:45YesYes2South Africa, Rand

    Last Updated : 16/06/2015

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    1.7 Other Currencies


    Currency Code Value Date Cut-off PFE Currency STP'able DP Country, Currency Name 
    BBD215:45YesNo2Barbados, Dollars
    JOD215:45YesNo3Jordan, Dinars
    MUR215:45YesNo2Mauritius, Rupees
    RON315:45YesNo2Romania, Leu
    TRY215:45YesNo2Turkey, Liras
    TTD215:45YesNo2Trinidad and Tobago, Dollars
    TZS215:45YesNo2Tanzania, Schillings
    XCD215:45YesNo2East Caribbean, Dollars

    Note: Any payments received by the Bank after the published cut-off time, may be held by the Bank till the next working day. If this is not your preferred route please talk to your Relationship Manager.

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10/28/2021 10:50:32 PM