Payment Instructions

A direct debit is a type of bank transfer that allows a recipient, such as a utility company, to collect payments automatically from your bank account. With a direct debit, you give the recipient permission to collect a specified amount from your account on an agreed-upon date.

The amount and frequency of direct debit payments can vary, and the recipient can request additional or larger payments if necessary, as long as they inform you in advance. You also have the right to cancel a direct debit at any time by informing your bank.

Direct debits are a convenient way to make payments, as they ensure that bills are paid on time and prevent missed or late payments. They are often used for recurring payments such as utility bills, gym memberships, or loan repayments.

To set up a direct debit, you can follow these steps:

1. Choose the recipient: Select the company or organisation you want to set up a direct debit with, such as your utility provider or mobile phone provider.

2. Contact the recipient: Contact the recipient and ask about setting up a direct debit. They will provide you with the necessary forms and information.

3. Provide bank details: Fill out the direct debit form with your bank account details, including your name, account number, and sort code.

4. Authorise the direct debit: Sign the direct debit form to authorise the recipient to collect payments from your account.

5. Confirm the details: Carefully review the details of the direct debit to ensure they are correct, including the amount and frequency of the payments.

6. Monitor the payments: Regularly monitor your bank account to ensure the direct debit payments are being made correctly.

Note: The process for setting up a direct debit may vary depending on the recipient, so it's best to check with the company for specific instructions. Additionally, some companies may allow you to set up a direct debit online through their website.

A fast payment is an electronic payment method that allows you to transfer money from one bank account to another in near real-time. The term "fast payment" generally refers to payment systems that can process transactions within a matter of seconds or a few minutes, rather than taking several hours or even days as with traditional bank transfers.

Fast payments are often used for time-sensitive transactions, such as paying bills, making online purchases, or sending money to friends and family. Some fast payment systems, such as instant payment systems, also allow for transfers 24/7, including weekends and holidays.

Fast payments are becoming more widely available in many countries and are seen as a way to improve the efficiency of the payment system and offer consumers a more convenient and faster way to transfer money.

To make a fast payment, you typically need to follow these steps:

1. Check eligibility: Verify that your bank supports fast payments and that your recipient's bank also supports them.

2. Gather recipient information: You will need the recipient's name, bank account number, sort code and a reference.

3. Access your online banking platform: Log in to your online banking account or use your bank's mobile app to initiate the fast payment.

4. Enter recipient information: Enter the recipient's information and the amount you wish to send. 

5. Check that the recipient's banking details match the name of the person or company that you want to pay. If they do not match, you need to be careful to check that your payment is not being requested as part of a scam.

6. Confirm the payment: Review the details of the payment and confirm it.

7. Wait for confirmation: Wait for a confirmation from your bank that the payment has been processed.

Note: The exact steps for making a fast payment may vary depending on your bank, so it's best to check with your bank for specific instructions. Additionally, some banks may require you to register for fast payments or set up a fast payment recipient in advance.

A standing order is a type of bank transfer that allows you to automatically make recurring payments from your account to another account on a specified date or dates. It is a convenient way to make payments for fixed amounts, such as rent, utilities, or loan repayments, without having to remember to do so manually each time.

A standing order is set up with your bank and remains in place until you cancel it. It is different from a direct debit, which allows the recipient to automatically collect an amount from your account, and can vary the amount they collect. With a standing order, you have complete control over the amount and frequency of the payments.

To set up a standing order, you can follow these steps:

Contact your bank: Visit your bank branch or contact your bank's customer service centre to inquire about setting up a standing order.

Provide details: Provide the recipient's name, account number, sort code, and the amount you want to pay. You will also need to specify the date and frequency of the payments.

Confirm the details: Carefully review the details of the standing order to ensure they are correct.

Sign the standing order mandate/agreement: Once you have confirmed the details, sign the standing order agreement form to authorise the bank to make the payments.

Monitor the payments: Regularly monitor your account to ensure the standing order payments are being made correctly.

You can cancel  or amend a standing by instructing your bank at any time.

Note: The process for setting up a standing order may vary depending on the bank, so it's best to check with your bank for specific instructions. Additionally, you may be able to set up a standing order online through your bank's online banking platform.