Types of payments and transfers

Payments available for personal and business customers

Automatic payment

This is ideal for paying a regular, fixed amount between your accounts or from your account to another person or business

One-off payment (direct credit)

This is great for paying another person or business once, or once in a while.

Bill payment

This is suitable for making multiple payments to the same person or business if the payment date, details, frequency, and amount for each payment is different, e.g. for bills, such as electricity or rates. Each bill payment is set up individually. You can save the information and use it again for future payments. Payments can be set up and authorised for future dates — these are stored and processed by us around 6:30am on the date they’re due.

Funds transfer

This is the most convenient option for moving money between your own accounts, including to your credit card.

Direct debit (as the payer)

Many utility and service providers offer this payment option, which is a convenient way to make sure your bills are paid on time. Your service provider will invoice you as usual and automatically take the amount owing on each invoice from your account on the date specified. You need to authorise your service provider to do this.

Cheque

We no longer accept cheques.  Find out more about changes to cheques

Payments available for business customers 

Direct credit (template)

A direct credit template lets you enter details for up to 2,000 payees, amend any details you like, and re-use these details in the future. This is very convenient for making payroll payments or for your monthly accounts. You can also combine transactions into a ‘batch’ when you use Internet Banking for Business. This means that you can continue to add or amend payment details throughout the day, then authorise and submit the ‘batch’ when it suits you.

Processing times for ‘batches’ of transactions: We won’t process any of the transactions in the batch until the whole batch has been authorised and then submitted by you. Once you submit the batch it can’t be amended or cancelled. We will send the payment(s) to your payee(s) normally within an hour of you submitting the batch to us.

Direct debit service (as initiator)

Direct debit service lets you manage payments from your customers so they don’t need to worry about paying you right amount at the right time. It’s a great way to help you manage your cash flow and make sure you’re paid on time. You can create a direct debit template of up to 2,000 payers, which is similar to direct credits in Internet Banking for Business.

Direct debit payments you initiate will be taken from your customers’ accounts on the due date and you’ll receive the payment the next day.