Open Banking

Bank-to-bank payments with instant settlement

Stop losing money to expensive card processing fees. Pay by Bank delivers 70% cost savings with instant bank-to-bank transfers that customers trust more than sharing card details. FCA-regulated Open Banking payments, settled via Faster Payments in seconds.

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Key Features

Why businesses choose Pay by Bank

Direct bank transfers powered by Open Banking. Lower costs, faster settlement, stronger security.

Save 70% on Processing Fees

Stop paying 2.9% + 30p per transaction. Pay by Bank costs just 0.5% flat rate + a fixed fee per transaction. For businesses processing high volumes, the savings are substantial.

Instant Settlement

No more waiting 2-3 business days for card settlement. Bank transfers settle instantly with real-time confirmation. Improve cash flow and eliminate payment delays.

Customers Trust Their Banks

Customers prefer direct bank payments over sharing card details. Increase conversion rates with a familiar, trusted banking experience they already know.

Bank-Grade Security Included

Customers authenticate using their own bank's multi-factor security. No sensitive payment data on your systems. PSD2 compliant by default.

Covers most UK bank accounts

Open Banking APIs reach the UK's main high-street banks — Barclays, HSBC, Lloyds, NatWest, Santander and the rest — giving coverage for most UK current accounts.

No Chargebacks

Bank-authorised payments cannot be charged back. Eliminate chargeback fraud and the costs that come with it. Direct authentication means direct payment certainty.

How It Works

Secure bank payments in four simple steps

1

Create a payment request

Your business user creates the request for payment and sends it to your customer by email or SMS message. Setup takes just minutes with our simple interface.

2

Customer selects their bank

Your customer clicks the received link and selects their bank. The service opens their mobile banking app or desktop internet bank login page automatically.

3

Customer authenticates with their bank

The customer logs into their banking app using their existing credentials, verifying their identity. They see the payment request presented by their bank and confirm.

4

Instant bank transfer completes

Money transfer is initiated and your business receives the agreed payment instantly. Both parties receive real-time confirmation. No waiting, no uncertainty.

Paytia and Fena payment flow

See how Paytia integrates with Fena to deliver secure Open Banking payments from start to finish.

Paytia and Fena Open Banking payment flow diagram
Use Cases

Who uses Pay by Bank?

Open Banking payments suit any business that wants to reduce processing fees and eliminate chargebacks while keeping settlement instant.

E-Commerce

Online retailers offer Pay by Bank at checkout as a lower-cost, higher-trust alternative to card payments. Instant settlement improves cash flow and there are no chargebacks to worry about.

  • •Lower checkout processing fees
  • •Instant settlement to your account
  • •No chargebacks or card fraud

Professional Services

Law firms, accountants, and consultants collect invoice payments via secure bank transfer links. No card handling, no PCI scope, and clients pay from their own banking app.

  • •Invoice payment links via email
  • •No PCI compliance burden
  • •Direct bank-to-bank settlement

Property and Lettings

Landlords and letting agents collect rent, deposits, and service charges via direct bank transfer with instant confirmation. Predictable, traceable, and final.

  • •Rent and deposit collection
  • •Instant payment confirmation
  • •Unique reference per transaction

High-Volume Billers

Utilities, telecoms, and subscription businesses cut card processing costs significantly by routing customers to Pay by Bank. The savings scale with volume.

  • •Significant savings vs card fees
  • •Bank-grade authentication
  • •Real-time reconciliation data
Bank Coverage

Covers most UK bank accounts

Pay by Bank connects through FCA-regulated Open Banking APIs, reaching the UK's main high-street banks plus most of the smaller ones. Your customers authenticate in their own banking app.

Barclays

HSBC

Lloyds Banking Group

NatWest

Santander

Nationwide

Halifax

Monzo

Starling

Revolut

Plus 50+ additional UK banks and building societies via Open Banking

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Send secure payment links via email, SMS, or your website. Mobile-optimised by default and Pay by Bank ready.

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FAQ

Frequently asked questions

What is Pay by Bank?
Pay by Bank is an Open Banking solution that enables instant, secure bank-to-bank transfers. Customers authenticate directly with their bank using familiar online banking credentials, then authorise the payment. No card details are needed, no chargebacks are possible, and funds settle instantly.
How much can I save compared to card payments?
Businesses typically save 50-70% on processing fees. Traditional card processing costs around 2.9% + 30p per transaction. Pay by Bank costs just 0.5% flat rate plus a fixed per-transaction fee. For a business processing GBP 50,000 monthly, that translates to over GBP 10,800 in annual savings.
Which banks are supported?
Pay by Bank covers the UK's main high-street banks — Barclays, HSBC, Lloyds Banking Group, NatWest, Santander, Nationwide and the rest — plus most of the smaller banks and building societies. In practice that reaches the vast majority of UK current accounts.
Is Pay by Bank secure?
Yes — customers authenticate using their own bank's multi-factor security systems. No card numbers, no CVVs, no sensitive data passes through your systems. The service is FCA-regulated and PSD2 compliant by design.
Can I use Pay by Bank alongside card payments?
Yes. Pay by Bank works alongside your existing card payment channels. Offer it as an additional option to give customers more choice and reduce your overall processing costs.
How quickly can I get set up?
Setup is a single API integration. Once you're connected, the Open Banking network handles coverage across UK banks. Most businesses are up and running within a day.

Ready to reduce processing costs by 70%?

See Pay by Bank in action. Book a personalised demo and calculate your savings.

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Used by British American Tobacco · Howard Kennedy · CITB · Clinical Partners · Trinity Hall College

Since 2016

Building secure payments

PCI DSS Level 1

Highest certification

99.99%

Platform uptime

£40M+

Transactions processed

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