Collect high-value one-offs without the card fee
Pay by Bank sends the customer a link, they approve a bank-to-bank transfer in their own banking app, and the money settles over Faster Payments. No card details, no card fee, no chargeback. It is the rail for the payments that cost most on cards: deposits, arrears and settlement figures.
What it is
Pay by Bank uses open banking payment initiation. You request a payment, the customer authenticates in their own bank app and approves it, and the funds move straight from their account to yours over Faster Payments.
Because the customer authorises each payment in their bank, there are no card numbers to capture or store, and no chargeback mechanism sitting behind the transaction. It is a clean, confirmed, high-value collection.
Where it wins, and where it doesn't
- Deposits and settlement figures, where card fees bite hardest
- Arrears collection, sent as a link by SMS, email or WhatsApp
- One-off invoices paid in full, with instant confirmation
- Any collection where you do not want to hold card data
- Customer-present retail, where tapping a card is simply faster
- Automated recurring collection, which Direct Debit or cVRP handle
- Customers who have no banking app and will not use one
Cost shape
Pay by Bank is priced as a fixed amount per transaction, not a percentage, so on a large payment it is markedly cheaper than a card. The saving grows with the value of the payment.
We quote on volume, not per rail. No price points here by design.
Failure and risk
The risk profile is low: the payment is a confirmed bank transfer, so it is irrevocable and carries no chargeback. The thing to design for is completion, making the link clear and the approval quick so the customer does not drop out.
Best for
The industries where this rail does the most work. Each one has its own payment mix.
Links, delivery and settlement in one place
Credit Canary generates the payment request, delivers it over the channel the customer will open, settles it to your account and posts it to one ledger matched to the right case. Where a one-off becomes a habit, the same integration can move the customer onto Direct Debit or commercial VRP without a second build. This connects to the wider Open Banking section.
Pay by Bank: FAQs
The customer approves a bank-to-bank transfer in their own banking app instead of entering card details. It settles over Faster Payments, has no chargeback, and costs a fixed amount rather than a percentage.
They authenticate with their own bank, usually in the bank's app. It is the same security they already use for banking, with no new account to create with you.
Yes. Send a payment link by SMS, email or WhatsApp. It is a common way to collect arrears without adding a card surcharge to a customer who is already behind.
It is the payments side of open banking. The data side, income and affordability, lives in our Open Banking section, and the two connect.
Move your big one-offs off cards
Tell us the mix of payments you take and make, and we will quote one integration across the rails that fit, priced on your volume.