Bankline Direct is available to Royal Bank business account customers who meet the specific eligibility criteria detailed below. Fees apply.
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Bankline Direct
Facilitating Digital payments and data 24/7
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Payments and collections
Bankline Direct has a variety of payment options to meet your needs whether paying for goods and services in the UK or overseas. Formats such as CSV, JSON, XML ISO 20022, SWIFT MT and ISO8583 are available.
With domestic payment options available through both Faster Payments (for payments under £1,000,000) and CHAPS (for high value same-day payments with the UK) Bankline Direct is designed to get your money where you want it, quickly and securely.
Bankline Direct offers also offer international payments, inter-account transfers, bulk lists, SEPA Direct Debit origination, and Bacs payments through
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Reporting
Bankline Direct has comprehensive reporting capabilities, sending you information that you can use automatically within your own systems.
Account information reports (statements) will provide information such as balance and transactions details. We offer a range of industry standard formats such as SWIFT MT and IS0 20022 XML.
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Communication channels
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Connectivity
Bankline Direct offers a choice of secure connectivity options through internet-based solutions, such as Secure File Transfer Protocol (SFTP) and Connect: Direct Secure +
Security
All communications between you and the Bankline Direct service must be secure in both directions. Bankline Direct channel is encrypted and offers additional security features like digital signing options for example Hardware Security Module (HSM) or Pretty Good Privacy (PGP).
Payment formats
Bankline Direct supports file standards such as ISO 20022 XML and Message Types (MT)
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Security
Mutual Transport Layer Security (MTLs) is used to encrypt and transmit individual payment messages. The OAuth 2.0 Authorisation Framework enables client applications to obtain delegated access using bearer tokens to our endpoints.
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Connectivity
SWIFTNet is used by all SWIFT-connected institutions. Bankline Direct offers a consistent single-window access via SWIFT Net FileAct and SWIFT Net FIN to ensure the reusability of your SWIFTNet infrastructure.
Security
The software ensures technical interoperability between users while ensuring integrity, authentication and confidentiality.
Payment formats
Bankline Direct supports file standards such as ISO 20022 XML and Message Types (MT)
For corporates
- Cost effective channel to streamline your cash management processes
- A secure channel for exchange of Treasury messages and files
- A 24X7 payment and reporting solution to support your growing business
- Ability to monitor the progress of your payments through detailed acknowledgements and reporting
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For financial institutions
- A single channel for sending and receiving files
- Send and receive Bank Grade and Non Bank Grade payments
- Connectivity with 24/7 availability for an easier, quicker alternative to access Faster Payment Scheme
- A dedicated UK sort code, sponsored by NatWest, providing indirect access to UK clearing schemes
- Meet regulatory requirements for your reporting needs
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You can use Bankline Direct if you meet the following criteria;
Meets MiFID criteria for Professional Client or Eligible Counterparty; OR
Average turnover for last 3 years ≥ £6.5m; OR
Average total assets for the last 3 years ≥ £3.26m; OR
Is part of a group connection that meets turnover or assets test
Hold UK accounts
Minimum of 500 transactions per month
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For clients wishing to use their own sort code (Indirect Access clients) to send/ receive payments they must;
Be FCA regulated/ EEA Passported
Have a Sort Code
Have a BIC; either a full live BIC or a BIC-21 (a BIC-21 is not a BIC connected to SWIFT but is needed in case of mis-formatted payments)
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