Bulk Faster Payments allows you to send up to 1,000 payments in one go. Watch our quick guide to help you get started.
Bulk Faster Payments
A new, quick and easy way to send bulk payments in Corporate Online Banking
What are Bulk Faster Payments?
Why use Bulk Faster Payments?
Easy
Upload your payment file quickly.
Efficient
Send up to 1,000 payments in one file.
Fast
Ideal for salary and supplier payments, and can be sent any time.
Things to remember
- The file needs to be in a CSV format (if it’s a .txt file just manually change the file extension to .csv)
- The file can’t have more than 1,000 rows
- The file won’t need any headings
- The columns in the file will need to be in the order: sort code, payee name, payee account number, amount and reference
- Be careful if any payees’ account numbers or sort codes start with a zero, as Excel may ignore them. It’s a good idea to format your columns to make sure account numbers always show eight digits and sort codes six digits.
- If your file meets these criteria, you'll be able to upload it without any issues. Watch our video above to see an example of a file that can be used for bulk faster payments.
Simple steps to make the payments you need
- Create your file following our easy-to-use format (sort code, payee name, account number, amount, debit reference).
- Upload your file to online banking.
- We’ll check your file to make sure there are no errors.
- Authorise your file so you’re in control of when the payments are sent.
How do Bulk Faster Payments work?
How long does a Bulk Faster Payment take to process?
Each individual payment usually reaches your payee straight away. If we notice something through our regular fraud checks, your branch may double-check the payee details with you before we send it. Any payments that have been held up show as ‘Partial payment’ on online banking.
How many payments can I send using Bulk Faster Payments?
You can send up to 1,000 payments in one file, each at a maximum of £250,000. The total value of the payments in one file depends on the limits set on your account.
Who can use Bulk Faster Payments?
Anyone at your company with the 'File management' permission for online banking will be able to upload files, but in order to authorise a file, you'll need to be an authorised signatory with the file amount being within your limit.
How much does a Bulk Faster Payment cost to send?
Each individual payment within your bulk file will cost the same as a single Faster Payment, in line with the fee in your tariff.
Can I send Bulk Faster Payments from a currency account?
No, they can only be sent in GBP and from GBP accounts.