Pay by Bank
Instant Bank Pay (IBP) is now known as Pay by Bank. While the name has been updated, the service functionality remains entirely unchanged.
Please note: The Pay by Bank feature is currently available for all merchants based in UK, US, Canada, EEA, Australia (PayTo), and New Zealand who are collecting GBP payments from customers in the UK.
Please register your interest here if you'd like to be notified when Pay by Bank is available in your region.
Pay by Bank 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.
- Overview of Pay by Bank
- Pay by Bank Availablity
- Pay by Bank for merchants using a partner software / API users
Overview of Pay by Bank
Pay by Bank 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.
Pay by Bank can be used to collect funds for additional services or to collect an initial payment before regular Direct Debit collections begin.
For UK Pay by Bank 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 more information on this please see our FAQs.
Pay by Bank Availability
Our Pay by Bank 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 Pay by Bank supports:
| Payer Location | Available to merchants based in |
|---|---|
| UK | UK US Eurozone Australia (PayTo) |
One-off payment schemes are supported by Faster Payments in the UK.
Recurring payment schemes are supported by Faster Payments (Recurring Pay by Bank) in the UK.
Pay by Bank for merchants using a partner software / API users
Merchants using a partner software
In order to use Pay by Bank 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
Pay by Bank is available for some merchants via the Billing Requests API. Please contact api@gocardless.com to learn more.