Pay by bank
Pay by bank is one of the popular alternative payment methods in the UK, allowing customers to pay directly from the existing bank accounts with a user-friendly, secure, and cost-effective payment experience.
Properties
The properties of the Pay by bank payment method are shown in the following table:
Payment type | Online banking | ||
Acquirer | AlipayUK | Acquiring region | UK |
Payment flow | Redirect | Checkout Payment | ✔️ |
Buyer country/region | UK | Auto Debit | ❌ |
Funds deduction | Real-time | Refund | ✔️ |
Processing currency | GBP | Partial refund | ✔️ |
Minimum payment amount | 0.99 GBP | Chargeback | ❌ |
Maximum payment amount | 15,000 GBP | Refund period | 365 days |
User experience
The following figure shows the journey of paying with Pay by bank:
Figure 1. Payment process with Pay by bank