Our Telepay service is operated through Parseq*, an established processing bureau, who provide a confidential, secure and high quality payment service.
- Automated regular Direct Credit payments.
- Information input either by telephone or fax on predefined forms.
- Simple, secure and economical.
- Certainty of payment dates can improve cashflow management.
- No need for a PC or to buy expensive software.
- Reduces risk of loss, late payment and theft.
- Potential reduction in bank charges.
Payment instructions can be submitted to Telepay up to 30 working days in advance of the date you require the payment to be made, but must be submitted at least two working days before the crediting day.
Telepay follows the standards 3-day Bacs cycle:
- Day 1: you request a payment before 3.30pm (by fax) / 4.30pm (by telephone) and the request is processed**.
- Day 2: the file is transmitted to the recipient’s bank.
- Day 3: funds are debited from your account and credited to the recipient’s account and the payment is complete.
Applying for this product is simple. For more details or for guidance on how to apply, please contact your Relationship Manager.
For rates and charges please read Your account charges explained leaflet (PDF).