Instant Bank Pay is our latest feature for GoCardless users. It enables you to request a payment from your new or existing customers and have the funds collected almost immediately following approval by your customer.
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Overview of Instant Bank Pay
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Instant Bank Pay Availablity
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Instant Bank Pay for merchants using a partner software / API users
Overview of Instant Bank Pay
Instant Bank Pay is designed to complement bank debit using open banking. These bank-to-bank payments are confirmed instantly, which means better visibility for you and your customers.
Instant Bank Pay can be used to collect funds for additional services or to collect an initial payment before regular Direct Debit collections begin.
For UK Instant Bank Pay payments:
Once your customer completes the billing request, you will receive instant confirmation in your dashboard or API. Payments made before 11am on business days will reach your account on the same day, otherwise, it takes up to one business day.
Please note: Payments made after 6pm will be processed the following working day.
For Germany Instant Bank Pay payments:
Once your customer completes the billing request, you will receive instant confirmation in your dashboard or API. Payments processed via SEPA Credit Transfer will reach your account within 3-5 working days. If you are using SEPA Instant Credit, it will reach your account in one working day.
For more information on this please see our reference section.
Instant Bank Pay Availability
Our Instant Bank Pay feature allows merchants to process one-off and recurring payments, based on the availability of the scheme in each country. Here is a full list of schemes and regions that Instant Bank Pay supports:
| Payer Location | Available to merchants based in |
|---|---|
|
UK |
UK |
|
Germany |
Eurozone |
|
Australia |
Australia |
One-off payment schemes are supported by Faster Payments in the UK, SCT (SEPA Credit Transfer) & SICT (SEPA Instant Credit Transfer) in Germany and PayTo in Australia.
Recurring payment schemes are supported by Faster Payments (VRP) in the UK and PayTo in Australia. Recurring payments with Instant Bank Pay are not currently available in Germany.
Instant Bank Pay for merchants using a partner software / API users
Merchants using a partner software
In order to use Instant Bank Pay or the Billing Requests API, your partner will need to have built the integration. Once the feature has been integrated, you should see the feature in your partner's platform.
GoCardless API users
Instant Bank Pay is available for some merchants via the Billing Requests API. Please contact api@gocardless.com to learn more.