Frequently Asked Questions

Faster Payments Service

  • 1.
    Are all payments sent by Faster Payments Service?

    All payments will be sent using Faster Payments Service and will leave the account immediately.  In most cases the cleared money will be available on the recipient's bank account within 2 hours, but it can sometimes take up to close of business the next working day.

    The bank account that you are sending the money to will need to be able to accept Faster Payments. You can check if the sort code accepts Faster Payments by using the sort code checker tool on the Payments UK website.

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  • 2.
    What about regular payments I receive from other people, will they be faster?

    Regular payments you receive from other people will be faster, provided the sending bank is part of the Faster Payments Service and can send Faster Payments.

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  • 3.
    How long does it take to transfer money between my accounts?

    Transfers made between your own personal accounts will be made right away or you can choose a future date.

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  • 4.
    What if I have made a payment to the wrong account?

    If you have made a payment to the wrong account details, or if you have made a payment using incorrect account information, please check if the payment has been returned to your account. If so, please resend the payment with the correct details. If the money hasn’t been returned and you know the beneficiary, the easiest and quickest way to recover the payment is to contact them directly. If however you don't know them or do not want to make direct contact, contact us directly on 0345 721 3141 and we will try and recover the funds for you.

    Please be aware that if the account details for your recipient were incorrect when you set up the payment, we may not be able to help you and you will need to contact the bank you made the payment to.

    Please call our Helpdesk on 0345 721 3141 (+44 131 339 2573 from overseas), 24 hours a day, 7 days a week. 

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CHAPS

  • 1.
    Why transfer money by CHAPS?

    If you need to send money in pounds from your Bank of Scotland personal current account to another UK account, you can ask in branch to make a payment by CHAPS. To send money by CHAPS you’ll need the bank account name, number and sort code of the recipient. You may wish to consider whether other methods of sending the payment, which do not incur a charge may be available – such as an internal transfer or a faster payment. More information about these payment types and the restrictions which apply to them can be found here or ask in branch.

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  • 2.
    When will it arrive?

    CHAPS processed externally through the Bank of England CHAPS settlement system – payments are guaranteed to arrive at the recipient bank on the same day if we receive your instruction before 4.25pm on a working day and the recipient bank account details are correct.

    CHAPS processed internally by Lloyds Banking Group – we will aim for these to arrive on the same day, if we receive your instruction before 4.25pm on a working day and the recipient bank account details are correct, but this isn’t guaranteed.

    CHAPS instructions received after 4.25pm on a working day are treated as received on the next working day.

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  • 3.
    How much will it cost?

    There is a single fee for each CHAPS payment of £25 for Bank of Scotland customers.

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  • 4.
    What should I do next?

    If you'd like to make a CHAPS transfer just call into your nearest branch.

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The Payment Services Directive and the Payment Services Regulations 2009

  • 1.
    What are the Payment Services Directive and the Payment Services Regulations 2009?

    The Payment Services Directive is a European Union legislation which supports a Single European Payment Area (SEPA). This means that cross-border euro payments can be made as efficiently as within national borders. The legislation has been implemented in the UK by the Payment Services Regulations 2009.

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  • 2.
    What do the Payment Services Regulations 2009 mean to me?

    The majority of payments you send from the 7th November 2011 will arrive by the next working day, where as previously, payments often took up to 4 days. Some payments will remain unaffected. These include those executed wholly in cash, cheques and other paper based transactions such as banker's drafts.

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  • 3.
    Who are SEPA member states?

    The Payment Services Directive (PSD) covers all payment accounts within the Single European Payments Area (SEPA). SEPA consists of those countries who are members of the European Economic Area plus Monaco and Switzerland.

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Bank of Scotland plc, Registered in Scotland No. SC327000. Registered Office: The Mound, Edinburgh EH1 1YZ. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.