Payment Services

We have a number of payment services to help you make and receive payments online quickly, efficiently and securely – within the UK or internationally.

UK payments

• CHAPS (Clearing House Automated Payments System) – guaranteed payments are transferred between UK banks on the same day. Payments must be accepted by us by 3.30pm, otherwise the transfer will take place on the next working day.
• Faster Payments Service (FPS) – a system which speeds up the way electronic payments in Sterling are made and received in the UK. Payments must be accepted by us by 5.30pm, otherwise the transfer will take place on the next working day.

Payments in the Single Euro Payments Area (SEPA) 

SEPA Credit Transfer (SCT) allows you to make payments easily and inexpensively to any other Single Euro Payment Area (SEPA) country.

SCT is a cross-border, non-urgent euro payment scheme which enables the transfer of payments in euros between any of the SEPA countries, including Euro payments within the UK.

Once a bank has accepted the instruction to make the payment, the beneficiary will receive the payment within three working days.

Cynergy Bank and SEPA

You can make SEPA Credit Transfers (SCTs) through Online Banking from the following accounts:

• Business Current Accounts
• Client Accounts
• Personal Current Accounts of business customers
• Personal Current Accounts

How to make a SEPA Credit Transfer (SCT)

To make a SEPA Credit Transfer, simply select the ‘SEPA Credit Transfer’ drop down option from the ‘Payments’ section in Online Banking. 

How to receive a SEPA Credit Transfer (SCT)

If you wish to receive payments in euros, you should ensure that you give the remitter your International Bank Account Number (IBAN) and Bank Identifier Code (BIC), as they are mandatory for SEPA payments. This information should be included on any invoices that you issue. You can find your IBAN on your statement or the ‘Account details’ screen in Online Banking. The Cynergy Bank BIC code is BCYPGB2L.

Countries included in the Single Euro Payment Area (SEPA)

The SEPA community consists of the 28 countries of the European Union:
Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, United Kingdom.

As well as:

Iceland, Liechtenstein, Norway, Switzerland

SEPA relates to euro payments only. Payments in other currencies in and outside of the SEPA community are unaffected.

Worldwide payments

• SWIFT (Society for Worldwide Interbank Financial Telecommunication) – a high-speed secure international payment system to make payments or receive funds anywhere in the world and in any currency.

For more information on our range of payment services please contact us.