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Important changes to Bankline: March 2012
All Standard Domestic Payments on Bankline are now sent as Faster Payments.
All Single and Bulk Standard Domestic Payments on Bankline are now sent via the Faster Payments Service.
Note: This excludes payments going to other Northern Ireland Ulster Bank accounts. These payments will continue to be sent as Inter Bank Payments (IBPs).
- The reason for this change
- What will this mean for you?
- Frequently asked questions
- Enhancements to Bankline
The reason for this change
All Single and Bulk Standard Domestic Payments will be routed by the Faster Payments Service.
This change took place on 5 March 2012 in response to the UK Payment Services Regulations requirement that from 1 January 2012 all electronic payments sent in Sterling within the UK must arrive with the beneficiary’s bank by close of business the next working day.
To help with the transition, any diarised Standard Domestic Payments that are to be routed via Bankers' Automated Clearing Services (Bacs) with a processing date before 11 April, will continue to be sent via Bacs. It is no longer possible to create a Bacs routed Standard Domestic Payment with a processing date beyond 11 April 2012.
What will this mean for you?
All Standard Domestic Payments up to £100,000 (or your payment limit if this is lower) that are keyed, imported or edited in Bankline, are now routed via the Faster Payments Service, provided the beneficiary's account can receive this type of payment.
The Faster Payments Service allows all your Standard Domestic Payments to be processed as Immediate, Next Day or Future Dated Faster Payments, with funds received by the beneficiary’s bank on the same day they are sent by us.
The key changes to Standard Domestic Payments on Bankline are outlined below, and more information can be found in the FAQs.
Key changes:
Payments over £100,000
- You will no longer be able to create Standard Domestic Payments for amounts over £100,000 after 5 March. Please note that for Bulk Payments, the limit is £100,000 for each individual credit and not the total value of the Bulk debit.
- Depending on the number of payments you make over £100,000, you will be able to send these payments as urgent CHAPS payments or split the payment into unequal amounts less than £100,000 (to aid reconciliation). You can check the ‘View Notification’ screen to confirm your CHAPS payment tariff. If you regularly make Standard Domestic Payments over £100,000, please discuss alternative services we offer that will enable you to make these via Bacs with your Relationship Manager.
Bulk Payments
- If any single credit within a Bulk Payment cannot be sent as a Faster Payment, you can reduce the amount to be within the £100,000 limit or remove the credit from the bulk payment. You will need to do this before the bulk payment is sent for processing. If you remove the credit from the Bulk Payment, this can be re-keyed as a CHAPS payment.
- You now have the option of sending Bulk Standard Domestic Payments that arrive with the beneficiaries’ banks on the same day, next day or up to six months in the future.
- We will provide information on Bulk Payment screens that help you manage any credits that cannot be sent as Faster Payments.
Funds checking
- We no longer reduce your available funds two days ahead of a Bulk or Single Payment credit date. For any next day or future dated payments however, you need to ensure you have sufficient funds in the account by 2 am on the credit date to prevent payments from being delayed during the day.
- If a paid referral fee is chargeable under your tariff where we pay items that create or increase unarranged borrowing, we would remind you that this fee also applies to Bankline Faster Payment referrals. If we decline to make a payment that would cause unarranged borrowing, an unpaid fee also continues to be chargeable. For more information of these charges please refer to the unarranged borrowing section on the ‘ Guide to Business Current account fees ’.
Payment tariff
- You can check the View notification screen to confirm your tariff for each Faster Payment type. Standard Domestic Payments sent as Future Dated Faster Payments will cost the same as those sent as Bacs payments.
Diarised payments
- Diarised Standard Domestic Payments created before 5 March 2012 may still be sent via Bacs until 11 April 2012. This is to help you transition to these new arrangements and to ensure that your payments are made on time. If however you edit and confirm a change to one of these payments it will be sent as a Faster Payment instead.
Imported payments
- Any imported files containing Standard Domestic Payments that cannot be sent as Faster Payments will trigger an error message against the file and the relevant payments within it. Depending on your import file preferences this may result in the file being cancelled or you may be able to edit the payments within Bankline. If you already know you will be importing payments that will trigger these errors you may wish to consider in advance of the change how you will manage this. Please refer to the FAQ’s for more information.
General changes
- If you are unable to send a Single Standard Domestic Payment as a Faster Payment, you will be able to convert the payment to a CHAPS payment at the price of your Bankline CHAPS tariff.
- You will still be able to view any Standard Domestic Payments sent as Bacs payments.
- There will be no change to CHAPS or international payments.
Frequently Asked Questions
To find out more about the changes to Standard Domestic Payments on Bankline, please refer to the FAQ’s .
Enhancements to Bankline
We have made several improvements to Bankline to make it easier for you to manage your Standard Domestic payments. To find out more about these enhancements, please select on the relevant links below:
Three payment types have been added to Bankline to reflect the new Bulk Faster Payment options that are now available.
Overview
We have added the new payment types to all screens where the Type/Note column appears. These new Bulk Payment types are: Immediate Bulk Payment, Next Day Bulk Payment and Future Dated Bulk Payment.
All payment authorisation messages and PDF’s produced by Bankline will also be updated to include these.
Example
Key changes:
Three new Bulk Payment types have been added to all screens where the Type/Note column appears. These are:
- Immediate Bulk Payment (IBULK)
- Next Day Bulk Payment (NBULK)
- Future Dated Bulk Payment (FBULK)
See the Payments Waiting for Authorisation example below.
The Bulk Payment authorisation privileges have been updated to include the new Bulk Faster Payment types.
Overview
The existing Authorise Bulk Payment and Authorise Confidential Bulk Payment privileges have been updated to include Future Dated Bulk Faster Payments.
There will also be new privileges created to allow the authorisation of Bulk Standard Domestic Payments that are routed as Immediate or Next Day Faster Payments. These will be added to the appropriate Bankline master roles but you will need to update any customised roles you have created. Some privileges will not be added to master roles and you will need to allocate these as required.
This means that your users will be able to carry on authorising Bulk Payments with the same payment cycle as they were before this change. However, if you want them to send Bulk Payments that credit immediately or the next day, you may need to update their permissions.
Example
Authorisation privileges have been created for the new Bulk Payment types and they have been added to master roles as follows:
| Privilege | Master Roles |
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Improvements to the Enter Bulk Payment and Edit Bulk Payment screens have been made so you can easily see which payments have an error or warning associated with them.
Overview
On the Enter Bulk Payment and Edit Bulk Payment screens, you no longer need to enter the total Bulk Payment amount as this will clearly be displayed in the information message you see when you confirm your payment request.
There is also greater clarity around which Bulk Payment credits have an error or warning associated with them. A new message will appear at the top of the screen and a new Error/Warning column will feature so that you can clearly see which beneficiary’s payment is affected.
You will need to remove the errors before you can continue with your payment. If the error is because the amount is above the Faster Payment limit of £100,000 then you can reduce it, or if it is because the beneficiary’s account cannot receive a Faster Payment, you can clear the amount to remove it from the Bulk payment.
Example
Enter Bulk Payment and Edit Bulk Payment
Key changes
To simplify the process, there is no longer a field asking you to enter the total Bulk Payment amount on the Enter Bulk Payment and Edit Bulk Payment screens. Instead the Bulk Payment total amount will clearly be displayed on the screen before you are asked to confirm the payment.
If any of the details within your Bulk Payment require attention, when you select Confirm, a message will appear indicating that one or more of your payments has an error or warning.
- A new Error/Warning column will appear if a error or warning is present and it will be identified with a hyperlink which will take you through to more information about it.
- A new View all errors/warnings link will appear in the bottom right corner of the screen. Find out more .
Identifying Bulk Payment errors and warnings
To help speed up the payment management process, errors and warnings relating to a Bulk Payment can now be easily identified.
Overview
All errors and warnings associated with a Bulk Payment can now be viewed by clicking on the View all errors/warnings link which will appear in the bottom right corner of the screen when viewing or editing a Bulk Payment. Each error or warning message will be shown on a separate row against the beneficiary name and identifier.
You can also use the new View/Print bulk payment error summary, which provides a report of the errors that will need to be cleared before the payment can be sent. It includes the full details of each payment, including amounts, and you may find it useful to print this information in case you wish to use an alternative payment method for these beneficiaries.
If there are no errors and only warnings, then the View/Print bulk payment error summary link will not be shown.
Example
View all errors and warnings
Key changes
- Any errors and warnings relating to a Bulk Payment will be clearly displayed as shown in example below.
- Each error or warning message will be shown on a separate row against the beneficiary name and ID.
- A new View/Print bulk payment error summary button will appear in the bottom right corner.
View and print Bulk Payment error summary
- All errors and warnings, as well as beneficiary details and credit amounts, will be summarised on this screen.
- This information can be easily printed so that you can use it to help manage the changes you need to make to your Bulk Payment, and to assist you if you decide to use an alternative payment method for these beneficiaries.
- To amend an error associated with a Bulk Payment, return to the payment entry screen.
To help you manage your payments, we have made some improvements to Bankline’s Search payments tool.
Overview
You will now be able to search for one of the new Bulk Payment types under Search payments by selecting it from the drop-down list.
To locate all payments with a ’Date payment committed’ for today and the next two days, use search options 2 and 3. This makes it easier to monitor your upcoming payments
Next Day and Future Dated Faster Payments begin processing from 4pm on the day before the date payment is to arrive and have a ’Date payment committed’ that matches the processing date To make it easier to check the status of these payments on the date payment is due to arrive at the beneficiaries bank please use search option 2 and select any Future Dated or Next Day payment type from the drop down list. The payments that began processing yesterday will then also be included in the results.
On the credit date, the Payment summary screen will show Next Day and Future Dated Faster Payments with a status of ‘rejected’ or ‘held, awaiting funds’. To see if they have moved to an ‘accepted’ status, use the Search payments option 2, as described above.
To avoid your Next Day and Future Dated Faster Payments being delayed during the day, you should ensure that you have sufficient funds in your account by 2a.m. on the day of credit.
If you want to cancel your Next Day or Future Dated Payment, you will need to do this before 4pm on the day before the payment is due to arrive.
Example
Key changes
- Three new payment types will be added to the Search payments drop-down list: Immediate Bulk Payment, Next Day Bulk Payment and Future Dated Bulk Payment.
- Search options 2 and 3 will now display payments with a ’Date payment committed’ of today and the next 2 days.
- When using option 2, and selecting any Future Dated or Next Day payment type from the drop down list, payments with a ’Date payment committed’ of yesterday will also be included in the results.
Monitoring the status of Bulk Payments sent
Overview
Once an Immediate, Next Day or Future Dated Bulk Payment has been successfully sent by the bank, the payment status will be updated and shown in the 'acceptance level' field.
Whilst the payment has been accepted to be sent by the bank, please be aware that payments may be returned by the beneficiary bank in cases where they cannot apply the funds using the beneficiary account details provided.
Any returns would be shown on your account and can be viewed on your Bankline statement.
Example
Key changes:
If an Immediate Bulk Payment is sent, the 'acceptance level' field will display 'Payment(s) accepted by beneficiary bank(s)'. Please note, credits may be returned by the beneficiary bank in cases where they cannot apply the funds using the beneficiary account details provided.
If a Next Day or Future Dated Bulk Payment is sent, the 'acceptance level' field will display 'Payment(s) sent to the beneficiary bank(s)'.
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