Appendices
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This is the latest version Published 9 months ago 28 Jun 2024Domestic Standing Order frequency examples, international payment charge models and required bank details.
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Domestic Standing Orders
| Standing Order Frequency Examples |
|---|
| Everyday |
| Every working day |
| Every week, on the 3rd day of the week. |
| Every 2nd week, on the 3rd day of the week. |
| Every month, on the 2nd week of the month, and on the 3rd day of the week. |
| Every month, on the last day of the month. |
| Every 6th month, on the 15th day of the month. |
| Paid on the 25th March, 24th June, 29th September and 25th December. |
International Payments
Charge Models
Payments initiated by PISPs using Open Banking Write APIs, should be able to cover the following international payments charge models:
- “SHARE” transfer: The sender PSU of the payment will pay fees to the sending bank for the outgoing transfer charges. The receiver PSU will receive the amount transferred, minus the correspondent (intermediary) bank charges
- “OUR” transfer: All fees will be charged to the sender PSU of the payment – i.e. the receiver PSU gets the full amount sent by the sender of the payment. Any charges applied by the receiving bank will be billed to the sender of the payment (usually sometime after sending the payment).
- “BEN” transfer: BEN (beneficiary) means that the sender PSU of the payments does not pay any charges. The receiver PSU of the payment receives the payment minus all transfer charges, including the sending bank charges if any.
AML – Required bank details
In order to make an International Payment, the ASPSP will need some of the following details relating to the beneficiary’s bank account:
| Data Field | Description |
|---|---|
| The Account Holders Name | The recipient's full name. |
| SWIFT/BIC Code | A SWIFT Code consists of 8 or 11 characters, both numbers and letters e.g. RFXLGB2L. |
| Sort Code | UK Bank code (6 digits usually displayed as 3 pairs of numbers), optional if within EEA. |
| Routing Number | The American Bankers Association Number (consists of 9 digits) and is also called a ABA Routing Number. |
| Routing Code | Any other local Bank Code - e.g. BSB number in Australia and New Zealand (6 digits). |
| IFSC Code | Indian Financial System Code, which is a unique 11-digit code that identifies the bank branch i.e. ICIC0001245. |
| IBAN | The International Bank Account Number. |
| Bank Name | The name of the bank where the recipient's account is held. |
| Bank Address | The address of the Beneficiary's bank. |
| Account Number | The recipient's bank account number. |
The information required is different for each country. For further information please see the table below:
Note: Whilst the SWIFT BIC is required to route the payments, for payments in Euro the customer does not have to provide this, the sending bank must derive it from the beneficiary IBAN