Cash Management Payment Services

Payment Services

Pay your staff and suppliers easily and on time, with our broad range of simple, reliable and secure payment options.
 

CHAPS

 
CHAPS is the GBP real-time gross settlement system (RTGS) operated by the Bank of England.
  • Perfect for one-off, large GBP payments, to fund mergers and acquisitions (M&A) activity or to settle FX transactions
  • Real-time settlement and same-day value - great for time sensitive transactions
  • Transactions are irrevocable
  • No upper limit on transaction value
 

Faster Payments

 
Faster Payments is a simple payment system between UK bank accounts that is cheaper than CHAPS and faster than Bacs.
  • Simplest way to send GBP payments to another UK bank account
  • Recipients typically receive funds within two hours
  • Maximum limit of £250,000 per payment
  • Ideal for single or recurring GBP payments within the UK
  • A speedy and lower-cost alternative to CHAPS
 

Bacs

 
Bacs is the UK payment method used for non-urgent, usually high volume and low-value GBP payments such as payroll or expenses.
  • The most cost-effective way to process UK payments
  • Used for Direct Credits and Direct Debits
  • Efficient way of handling a large number of low value transactions
  • File-based processing, bulk payment capability
  • Three business days clearing cycle
  • Submit payments via SVB online platforms or process through a Bacs approved bureau scheme of your choice
 

SEPA Credit Transfer

 
SEPA Credit Transfer (Single Euro Payments Area) is the pan-European payment method used for non-urgent, usually high-volume and low-value EUR payments – similar to Bacs in the UK.
  • The most cost-effective, secure way to process EUR payments
  • Efficiently handle bulk payment files in EUR
  • Process single EUR payments
  • One to two business days clearing cycle
 

International Payments

 
Also known as Cross-border, SWIFT or wire transfers.

International Payments are ideal for making single, urgent payments to suppliers around the world, via our network of correspondent banks.
  • Send money all over the world, in all major currencies
  • Real-time settlement, same-day value
  • Payments are irrevocable
  • No upper limit on transaction value
  • Available in same-currency or with an FX conversion

Talk to our team of experts

 

If you are already an SVB client, call us on 0800 023 1441 or +44 207 367 7881 from overseas or email ukproductqueries@svb.com otherwise please click below.

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