• Key differences relating to payments

    This page explains how creating and approving payments will differ on Commercial Banking Online. There are a range of new features including payment status alerts and being able to view your account balance while making a payment.


    Payment types

    Some payment types will be grouped together differently in Commercial Banking Online

    Corporate Online

    Certain payments have been grouped together as shown below. If a user currently has permission to approve payments up to a certain limit for one of the payment types that is being merged, their permissions, including approval limit will be carried over to the new type of payment type.

    For example: if a user currently has permissions to create a Bacs single payment, this permission will be carried over so they can make any Bacs payments up to their authorised limit. If a user has two different payment limits for the differing payment types, the lower limit will be moved across to Commercial Banking Online.

    Please review your users' permissions.

    Mapping of payment types Corporate Online 030715

    International payments

    There are some changes to the way international payments will be made on Commercial Banking Online

    Corporate Online

    Exchange rate for international payments

    When you make an international payment on Corporate Online as a ‘live rate transaction’ the exchange rate to be applied to your payment is displayed onscreen for you to approve or reject. Alternatively, you can select to have the exchange rate automatically applied as your payment is processed.

    When you make an international payment on Commercial Banking Online, you have three options:

    1. Manual: the exchange rate is displayed on screen for you to approve or reject., Commercial Banking Online offers the ‘manual’ option for international payments as a default.You may change this to the automatically applied rate by contacting your client manager.
    2. Pre-booked: you can use your pre-booked exchange rate. To do this you must enter the contract ID whilst making the international payment. If the contract ID and exchange rate are validated then payment will go through successfully.

     

    International payments are processed every hour

    When you make an international payment on Corporate Online the payment is visible on your statement immediately.

    On Commercial Banking Online, international payments will be processed by a different system. This means international payments are processed every hour.

    As a result, there could be a delay of up to an hour for an international payment debit to be visible on your Commercial Banking Online statement. However, account balances and available funds will be updated immediately.

    International draft payment charges

    When you submit an international draft payment on LloydsLink online you can select who pays the charge, by selecting 'OUR' for your organisation or 'BEN' for the beneficiary of the payment to pay. On Commercial Banking Online you will need to select 'DRAFT SHA' for your organisation or 'DRAFT BEN' for the beneficiary to pay.

    Special instructions and information to the payee

    On Corporate Online you can enter special instructions for an international payment to be routed through an intermediary bank.

    This field is not available on Commercial Banking Online. This means any information stored in the 'Specific Payment Instructions' field for an international payment will not be moved over.

    You can request that payments are routed through a particular intermediary bank by entering this in the Intermediary Bank Field on Commercial Banking Online.

    Inter-account transfers

    Inter-account transfers are approved in the same way as other payment types

    SEPA Direct Debit

    The SEPA Direct Debit service will be accessible from the Lloyds Bank Commercial Banking website

    Same day payments (Lloyds Bank to Lloyds Bank)

    You must use different payment types to make same day payments to other Lloyds Bank accounts once you’ve moved to Commercial Banking Online

    Creating a payment

    Some fields you use when creating a payment may have been renamed or have different character limits

    Payments credited and debited to the same account

    In the rare occurrence where a payment of the same value is debited and then credited to the same account these payments will be processed as normal in Commercial Banking Online and may incur charges.

    In your current online banking channel this payment would automatically be cancelled and you would be notified.

    In Commercial Banking Online you will be able to see your account balance while making a payment, so you will no longer need to check your account balance beforehand. You’ll also be able to create a new payment using one form for all payment types.

    Corporate Online

    Commercial Banking Online has a new payment modification function, which allows you to freeze a payment or payment batch to prevent any further changes being made before it is approved.

    You can set this to deny or allow individual payments or batches of payments.

    Field name changes

    The Corporate Online fields shown below will be moved to Commercial Banking Online and referred to by a different name.

    Corporate Online field nameCommercial Banking Online field nameRelevant payment types
    Reference Beneficiary Reference and Debit Account ReferenceInter-account transfers, euro, international and CHAPS
    Reference Beneficiary ReferenceBacs and Faster Payments
    Remitter referenceDebit Account ReferenceBacs and Faster Payments

    Question:

    Need help see more information about creating payments on Commercial Banking Online.

    Future-dated payments

    Any future-dated payments scheduled on your existing online banking channel will not be moved to Commercial Banking Online

    If you have any fully authorised future-dated payments scheduled to be paid on a date after the Friday on the weekend your channel access is moved, these payments must be deleted before your proposed move date, or you will lose the ability to view, amend, or cancel them and there is also a risk that your activation on Commercial Banking Online could be delayed until these payments are cancelled.

    Once you have access to Commercial Banking Online you will be able to re-create these payments.

    Beneficiaries

    Corporate Online

    Dual approval

    If you have dual payments approval then a second user will need to approve creation of new beneficiaries and any changes to the beneficiary library on Commercial Banking Online.

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    For your security, we strongly recommend dual approval of all payments.

    Will my beneficiaries automatically be moved over to Commercial Banking Online?

    Some of your beneficiaries may not automatically move over to Commercial Banking Online. We have created a guide which shows how you may need to update some fields in your beneficiary library to ensure your beneficiaries automatically move over to Commercial Banking Online.

    Question:

    Need help find out how to amend your beneficiaries.

    If you have beneficiaries on Corporate Online that are no longer required, please delete them at by the Friday before you move to Commercial Banking Online.

    Creating a new beneficiary

    When you create a new beneficiary whilst making a payment, Commercial Banking Online allows you to select to automatically add the beneficiary to the beneficiary library.

    When you create a beneficiary on Commercial Banking Online, you can select for any changes made to the beneficiary, such as beneficiary sort code or account number to be automatically applied to all templates containing that beneficiary.

    Payment templates and beneficiaries

    If you have uploaded payment details to a payment template from your beneficiary library there may be some details that can’t be amended within the payment template. The best way to update beneficiaries is:

    1. update your beneficiary details in the beneficiary library
    2. delete the beneficiary from your payment template
    3. upload the revised beneficiary details to the payment template.

     

    Inactive beneficiaries

    Once you have moved to Commercial Banking Online, you can remove any inactive beneficiaries from the beneficiary library. An inactive beneficiary is a recipient who has not received a payment for a minimum of 25 months from the date you start using Commercial Banking Online.

    Importing beneficiaries

    You can import beneficiary details from Corporate Online to Commercial Banking Online. The file type for importing beneficiaries is '.csv'.

    The information will be similar to Corporate Online but headings will be different and may be arranged in a different order.

    Payment templates

    Payment templates will work in a slightly different way on Commercial Banking Online

    Corporate Online

    A payment template on Corporate Online may have one or more underlying payments.

    Where a payment template only has one payment, this will move to Commercial Banking Online as a single payment template.

    Where a payment template has more than one underlying payment, each payment will move to Commercial Banking Online as a single payment template; these payment templates will then be linked together as a payment template group.

    The above applies to all payment types apart from Bacs Multiple – here the payment template and all its underlying payments will move to Commercial Banking Online as a single payment template with many underlying beneficiaries.

    Payment template names

    Each payment template on Commercial Banking Online will be assigned a unique template name – this will start with ‘S’ if the template is shared or ‘R’ if it’s restricted and be followed by a unique number e.g. ‘S123’.

    The payment template name currently on Corporate Online will become your payment template description on Commercial Banking Online.

    Each payment template group set up on Commercial Banking Online will be assigned a name which will comprise of ‘S’ or ‘R’ (to denote shared or restricted) followed by the template name from Corporate Online, e.g. ‘SMONTHLYRENTAL’. In the event of two identical template names, a number will be appended for uniqueness (‘SMONTLYRENTAL1’).

    Which templates will be automatically moved over to Commercial Banking Online?

    The following payment templates will not be automatically moved over to Commercial Banking Online:

    1. Payment templates for currency accounts where the debit account number has a format of 5 numbers, 3 letters and 2 numbers, e.g. 12345USD12. Payment templates associated with these accounts will not be moved over to Commercial Banking Online as the accounts are not Lloyds Banking Group accounts.
    2. International, EURO and CHAPS payment templates where the IBAN is not valid.
    3. International payment templates with a non-IBAN account number where the SWIFT Address/BIC Code is not valid.
    4. Domestic payment templates where the sort code and account number quoted is not a valid UK account number.
    5. International draft templates.
    6. Templates where the debit account has been closed.
    7. Unfinished payment templates.
    8. Personal payment templates where the creator is not in scope for moving to Commercial Banking Online, e.g. deleted or dormant user.

    Updating a payment template on Corporate Online

    If you are updating the underlying payments in a payment template ahead of your move to Commercial Banking Online, the fields available for update vary based on whether you:

    1. Created the payment via ‘Select Beneficiaries’ – here only non-Beneficiary fields can be updated (Debit Account Number, Value Date, Amount, References).
    2. Created the payment via ‘Free Format’ – here all of the fields can be updated.

    In scenario 1, you need to ‘delete and create’ rather than ‘amend’ where a Beneficiary field (e.g. Beneficiary Account Name) is to change.

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    Please ensure you verify beneficiary details before making any changes to your records. Fraudsters attempt to imitate trusted sources in order to alter these details.

    Updating a beneficiary on Corporate Online

    If you update a Beneficiary then the changes will not automatically feed through to any template which used that beneficiary. In order for this to happen, you must ‘delete’ and ‘create’ the relevant payments.

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    Please ensure you verify beneficiary details before making any changes to your records. Fraudsters attempt to imitate trusted sources in order to alter these details.

    Editing a payment template

    Templates should be updated and saved before creating a payment on Commercial Banking Online. Changes to payment templates cannot be made while in the process of creating a payment. The only fields that can be changed when making a payment are the amount and date. Some optional fields on Corporate Online will be mandatory on Commercial Banking Online. You need to edit your payment template once you’ve moved to ensure you can submit the payment.

    You should complete the following fields:

    • Beneficiary Account Code Type
    • Beneficiary Bank Name
    • Beneficiary Bank Account Code Type
    • Beneficiary Bank Country

    You may need to make some small changes to your payment templates to be sure they are moved over to Commercial Banking Online.

    We have created a guide to explain how you can update your payment templates so they are automatically moved over to Commercial Banking Online.

    If you have payment templates on Corporate Online that are no longer required, please delete these before 5pm on Friday on the weekend your accounts move to Commercial Banking Online.

    Question:

    Need help see how to update your payment templates so they will be automatically moved to Commercial Banking Online.

    Importing payments including confidential imports

    There is a thorough validation process when creating payments on Commercial Banking Online. This is to reduce the number of errors and data corruption as payments are processed.

    Importing payment files

    There are two ways to import payments files on Commercial Banking Online:

    • Payment import imports multiple payments in a single file which are shown as individual records. The single payment cut-off times apply to approval of these payments.
    • File import combines multiple payments into a single record. The payment cut-off times for file imports are 20 minutes before the earliest file import cut-off time of any payment type or currency type in the file. This is to allow extra time to process the payments.

     

    When you import a payment using file import, each payment will have a ‘released’ status until all payments in the import have been processed. You will need to view the payment report for each file import to see which payments have been paid or rejected.

    A payment file imported into Commercial Banking Online can have a maximum of 1,000 entries, except when you initiate Bacs payments as single credit/debit when the limit is 500 transactions.

    You can mix payment types in an import except Bacs which cannot be mixed with other payment types.

    On Commercial Banking Online, each imported file must have a unique name or it will not be accepted.

    When you submit multiple payments on Commercial Banking Online payment screen now displays a dynamic field which shows the number and value of payments in the batch.

    Imported payment files cannot be saved as a template or copied over to Commercial Banking Online. It is also not possible to copy the payment records of imported payments.

    Payment files must be imported each time they are required and duplicate payment imports will be rejected on Commercial Banking Online.

    There will be changes to the layout, name and format of fields on Commercial Banking Online.

    Import mapper

    All users with import payments permissions will be automatically set up to use the new Import mapper on Commercial Banking Online.

    The Import mapper allows you to import your organisation’s common or regular payments into Commercial Banking Online from your original files. It works by mapping the fields in your current files to the fields in Commercial Banking Online. Once you have created the import mapper you can reuse it every time you import the same type of file into Commercial Banking Online.

    Corporate Online

    Imported payments validation

    Commercial Banking Online has a thorough validation process for payments. This is to reduce the number of errors when a payment is submitted for approval.

    If a payment within the imported file does not pass validation on Commercial Banking Online, the entire file is rejected. All payments must pass validation before payment processing.

    Common reasons for failing validation include:

    • Sort code must be represented as 6 numerical characters
    • Account number must be represented as 8 numerical characters
    • Beneficiary name will be a maximum of 18 alphanumeric characters (this field will not auto-truncate)
    • Amount field must contain a value of at least £0.01 p (field values of £0.00 will cause the payment file to reject)

    There is one exception: in a payment workflow, if the amount or date is invalid, they can be modified directly from Commercial Banking Online.

    Import payment permissions

    On Corporate Online, administrators can specify which users can import payments if the beneficiary already exists, and which type of payments they can import.

    Commercial Banking Online does not have this distinction. Users can either import all payments or none. Any payment creation permissions assigned to a user will not apply to imported payments.

    Restricted import payment settings will not be moved to Commercial Banking Online, so Corporate Online users with these settings will not be able to import payments on Commercial Banking Online.

    An Administrator can enable import payment permissions for these users after you have moved to Commercial Banking Online.

    Imported payment files

    Imported payment files cannot be saved as a template or copied over to Commercial Banking Online. It is also not possible to copy the payment records of imported payments.

    Payment files must be imported each time they are required and duplicate payment imports will be rejected on Commercial Banking Online.

    Importing payments from multiple accounts

    On Corporate Online a payment can only be imported from one account.

    On Commercial Banking Online you can upload payment files containing payments from different debit accounts.

    Importing payments beneficiary address

    On Commercial Banking Online, if the beneficiary address given on an imported payment differs from the address we have for that beneficiary the address will be automatically updated with the address held on Commercial Banking Online.

    Calendar reminders for payments

    Commercial Banking Online doesn’t have the facility to create payment reminders

    Real-time posting of payments

    Commercial Banking Online offers real-time posting of transactions

    Commercial Banking Online delivers real-time posting of transactions. You will need to refresh your screen to see updates.

    Payment approval, including bulk payments and grouped payments

    Some payment approval settings are different

    Corporate Online

    The creation of grouped payments is not available on Commercial Banking Online but individual payments can be bulk approved using the followng tools:

    • BULK IAT: enables you to create multiple inter-account transfer payments from the same screen
    • Quick entry: allows you to create many payments and submit them together.

    Payment cut-off times

    If a payment misses the cut-off time, you are given the option to schedule it as a future-dated payment

    In Commercial Banking Online, payments received after their cut-off time will be immediately rejected. If you submit a payment after its cut-off time, you will need to enter a future date for the submission to be accepted. All future-dated payments are processed on the date stated.

    If a payment is submitted but not approved before the cut-off time it will be rejected.

    Payment cut-off times

    Faster Payments and inter-account transfers can be created any time of the day and will be completed by their relevant cut-off time provided they are not referred.

    If you submit a payment at or close to the cut-off time your payment may not be processed if it needs to be referred and you may receive an auto-rejection message.

    Faster payments approved between 23:55 and 23:59 will be processed at 07:00 the next day, Faster Payments approved after 00:00 will be processed immediately.

    Future dated Faster Payments will be processed at 07:00 on the specified value date. 

    International payment cut-off times

    International payments sent at close to the cut-off times will not be processed if the payment needs to be referred. If this happens you will receive an auto-rejection message and will need to re-submit the payment on the next working day.

    Transaction and value limits

    Setting limits for transactions can be done directly in Commercial Banking Online

    Primary administrators can set up transaction and value limits easily.

    Visit our frequently asked questions section to find out more about payments in Commercial Banking Online.

    Payment alerts and remittance advices

    There are a range of payment alerts available on Commercial Banking Online Payment alerts

    You can set up email alerts to notify them when different actions are taken or required when making a payment, or creating a beneficiary. Alerts can be set up for when a payment is rejected, processed or awaiting approval. You can set these up once you’ve moved to Commercial Banking Online.

    Any alerts on your existing banking channel will not be moved and you will need to recreate these in Commercial Banking Online.

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    To help protect against fraud we strongly recommend you use the Beneficiary Library Maintenance admin alert, which is sent when a record in the Beneficiary Library is created, approved or modified.

    Payment statuses

    There are clearer payment processing statuses available on Commercial Banking Online

    You will be able to see if a payment has been entered or actioned on Commercial Banking Online by viewing the payment status, which shows you the status of the payment from its creation through to its approval by the bank. You can also set up email alerts to notify a user when a payment reaches each stage.

    The main payment statuses are:

    • Entered: The payment has been created or imported and is awaiting approval
    • Approved: The payment has been approved by all approvers
    • Bank confirmed: The payment has been successfully received and processed by the bank
    • Bank rejected: The payment has been rejected by the bank, for example due to insufficient funds or a referred payment that was not processed by the cut-off time.

     

Lloyds Bank plc. Registered office: 25 Gresham Street, London, EC2V 7HN. Registered in England and Wales no. 2065. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Authorisation can be checked on the Financial Services Register at www.fca.org.uk under the Firm Registration Number 119278.

We subscribe to The Lending Code; copies of the Code can be obtained from www.lendingstandardsboard.org.uk. Eligible deposits with us are protected by the Financial Services Compensation Scheme (FSCS). We are covered by the Financial Ombudsman Service (FOS). Please note that due to FSCS and FOS eligibility criteria not all Business customers will be covered.