Appendices

Payment Initiation Services (PIS) parameters and considerations

This version is:

Published 3 years ago 01 Mar 2019
Domestic Standing Orders International Payments Charge Models Payments initiated by PISPs using Open Banking Write…

Other Journeys in ‘Appendices’.

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:

      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 FieldDescription
      The Account Holders NameThe recipient's full name. 
      SWIFT/BIC CodeA SWIFT Code consists of 8 or 11 characters, both numbers and letters e.g. RFXLGB2L. 
      Sort CodeUK Bank code (6 digits usually displayed as 3 pairs of numbers), optional if within EEA.
      Routing NumberThe American Bankers Association Number (consists of 9 digits) and is also called a ABA Routing Number.
      Routing CodeAny other local Bank Code - e.g. BSB number in Australia and New Zealand (6 digits).
      IFSC CodeIndian Financial System Code, which is a unique 11-digit code that identifies the bank branch i.e. ICIC0001245.
      IBANThe International Bank Account Number.
      Bank NameThe name of the bank where the recipient's account is held.
      Bank AddressThe address of the Beneficiary's bank.
      Account NumberThe recipient's bank account number.

      The information required is different for each country. For further information please see the table below:

      Receiving CountryCurrencyInformation RequiredOptional Information
      UKGBPAccount Holder's Name
      Account Number
      Sort Code      		IBAN
      SWIFT/BIC code
      UKAll Other CurrenciesAccount Holder's Name
      IBAN
      SWIFT/BIC code      		Sort Code
      All European CountriesAll CurrenciesAccount Holder's Name
      IBAN
      SWIFT/BIC code
      Hong KongUSD, EUR, GBPAccount Holder's Name
      IBAN
      SWIFT/BIC code
      ChinaUSD, EUR, GBPAccount Holder's Name
      Account Number
      SWIFT/BIC code
      Bank Name
      Bank Address
      Australia /
      New Zealand / South Africa      		All CurrenciesAccount Holder's Name
      Account Number
      Routing code
      Bank Name
      Bank Address      		SWIFT/BIC code
      CanadaAll CurrenciesAccount Holder's Name
      Account Number
      SWIFT/BIC code
      Bank Name
      Bank Address      		Routing Code
      USAAll CurrenciesAccount Holder's Name
      Account Number
      ABA Number
      Bank Name
      Bank Address      		SWIFT/BIC code
      IndiaINRAccount Holder's Name
      Account Number
      IFSC code
      Bank Name
      Bank Address      		SWIFT/BIC code
      IndiaAll Other CurrenciesAccount Holder's Name
      Account Number
      SWIFT/BIC code
      Bank Name
      Bank Address      		IFSC Code
      All Other CountriesAll CurrenciesAccount Holder's Name
      Account Number
      Bank Name
      Bank Address
      		SWIFT/BIC code

      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

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