Telepay

• Automated regular Direct Credit payments
• Information input either by telephone or fax on predefined forms
• No need for Bacs indemnity to be signed, fax indemnity only
• Debit/Credit Day 3
• Simple, secure and economical way to make payments
• Certainty of payment dates
• Improved cashflow management
• Allows the customer to submit Bacs payments without the need of a PC
• Reduces risk of loss, late payment and theft
• Potential reduction in bank charges
• Enhanced service quality
• Beneficiary lists managed by Parseq with amendments faxed by the customer on predefined forms
• The Telepay service is operated through Parseq, an established processing bureau, who provide a confidential, secure and high quality payment service for you.

This service uses the Bacs 3 day cycle:

• Day 1: input day, when payment is requested by the customer before 3.30pm (by fax) / 4.30pm (by telephone)
• Day 2: processing day, where the file is transmitted to the recipients bank
• Day 3: funds debited to the customers account and credited to the recipients account

Cut Off Times

Bacs payments received by 3.30pm (by fax) / 4.30pm (by telephone) will be part of day 1 processing. Any payments received after 3.30pm (by fax) / 4.30pm (by telephone) will be processed on the next banking business day.

Applying for this product is simple. For more details or for guidance on how to apply, please contact your Relationship Manager.

Your account charges explained leaflet (PDF).