Payment Services

From once-off real-time transactions to recurring bulk payments, our simple, reliable, secure payment options give you the freedom to move funds as your business demands, and pay staff and suppliers easily and on time. There are three payment options in the UK. CHAPS, the Bank of England’s real-time gross settlement system (RTGS), allows for real-time GBP payments. BACs is used for non-urgent, usually high volume and low-value GBP payments like payroll or expenses. Another option is Faster Payments, a simple payment system between UK bank accounts that is cheaper than CHAPS and faster than BACs. Making payments in the EU? SEPA (Single Euro Payments Area) is the pan-European payment method used for non-urgent, usually high-volume and low-value EUR payments. Paying global suppliers? International payments like Cross-border, SWIFT or wire transfers via our network of correspondent banks are ideal for single, urgent payments.

CHAPS is the GBP real-time gross settlement system (RTGS) operated by the Bank of England.

Faster Payments is a simple payment system between UK bank accounts that is cheaper than CHAPS and faster than Bacs.

Bacs is the UK payment method used for non-urgent, usually high volume and low-value GBP payments such as payroll or expenses.

SEPA (Single Euro Payments Area) is the pan-European payment method used for non-urgent, usually high-volume and low-value EUR payments – similar to Bacs in the UK.

Also known as Cross-border, SWIFT or wire transfers.
International Payments are ideal for making single, urgent payments to suppliers around the world, via our network of correspondent banks.

If you are already an HSBC Innovation Banking client, call us on 0800 023 1441 or +44 207 367 7881 from overseas or email innv-uk-productrequest@hsbc.com otherwise please click below.