Changes to FD Online Foreign Payments and Foreign Beneficiaries [EU Regulations (EU 260/2102)]
From Saturday, 13th August, we are making minor changes to the way that you key your foreign payments/ foreign beneficiaries when you use the Bank’s online banking services: - FD Online. From the 13th August, the use of a BIC (Business Identifier Code) is no longer mandatory. The BIC becomes non-mandatory where the payment’s beneficiary bank is in the Single European Payments Area (SEPA). SEPA consists of 34 countries based around the Eurozone – 28 EU members plus 6 additional countries: (Iceland, Liechtenstein, Norway, Monaco, San Marino, and Switzerland). The BIC field must be completed but you can choose between a BIC if you have one, or use the Bank’s default value “CPBKSEPABIC”.
The aim is to make payments within SEPA easier to create. For foreign payments you have a choice from the following options:
||Beneficiary Bank is outside SEPA
||BIC & IBAN|
|SWIFT Payment.||Beneficiary Bank is within SEPA||Option 1: IBAN only*|
|SWIFT Payment.||Beneficiary Bank is within SEPA
||Option 2: BIC & IBAN|
||Any Beneficiary Bank||BIC & IBAN|
Note * Where no BIC is available use the default settings available on the input page ( tickbox) and the Bank will later add the correct BIC. Your SWIFT payment advice will show the corrected BIC used by the Bank in the payment. FD Online will continue to show the default BIC.
CHANGE TO UK CHAPS CUT OFF TIME
On the 20th June 2016, the window for sending UK CHAPS transfers was extended from 15.45 to 17:30. SWIFT (15:30 Cut-off ) and CHAPS Euro (11:00am for Same Day or 14:30 Cut-off )are unaffected by these changes.
Online Banking Users - Important Security Message
We will never call you to ask for your full security details or to use your security token. Always be alert to unexpected requests to re-enter your security token details online or to any unusual screens.
Remain Vigilant - never share your online banking security token with others.
If you are contacted and asked to do this or you notice any unusual screens when banking online, do not continue but call us immediately on 03457 654 654
Fraudulent Payment Requests
Always be cautious of requests to change beneficiary bank details of suppliers or requests to make an urgent payment.
Fraudsters will claim to be from companies/suppliers you pay or even a senior colleague of your company. Always check any unusual payment requests or change of beneficiary bank requests, ideally in person or by telephone, to confirm the instruction is genuine. Do not use contact details from an email, even if the message appears to have originated from someone within your own organisation.
Protect Your Account
You should never disclose your security details to any third party unless they are already registered on your account.
We will not be able to discuss your account with any individual unless they have been registered with us. To register an individual so they can discuss the account with the Bank, please complete the 'Change of Authorised Account Persons' mandate - the link below will take you to our Manage Your Account page, then click on the tab called 'Change of Account Details'