• Key differences relating to payments for LloydsLink customers

    Last updated:  09  December  2015


    Payment approval

    Approving payments on Commercial Banking Online differs from LloydsLink

    There are many more options for setting permissions based on different payment types, payment limits and accounts, adding more flexibility to the approval process.

    Payments on Commercial Banking Online can be set for approval by one or more users for payment types, payment limits or accounts. You will still be able to approve a payment you have created, providing you have the permissions to do so.

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

    Question:

    Need help find out more about permissions on Commercial Banking Online.

    Find out more about payment types available on Commercial Banking Online

    Faster payments and inter-account transfers

    Faster payments and inter-account transfer can be made at any time on Commercial Banking Online, providing these have been approved and not referred

    Account balances and payments information available in real-time

    Commercial Banking Online will show payment and account balances in real-time. You should refresh your screen frequently to see updates

    Windows users can refresh the internet browser screen by pressing ‘Ctrl’ and ‘F5’ at the same time.

    Mac users can press ‘Cmd’ and ‘R’ at the same time to refresh the screen.

    Calendar reminders for payments

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

    Currently it’s possible to create payment reminders on LloydsLink, but Commercial Banking Online will not have this feature. Any regular payments should be added to Outlook or to another calendar to ensure you continue to receive reminders.

    You will be able to set up alerts and notifications for payments on Commercial Banking Online.

    Question:

    Need help find out more about alerts on Commercial Banking Online.

    Emailing remittance advices

    It’s not possible to email remittance advices from Commercial Banking Online

    The names of payment types have been simplified

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

    The diagram below shows how LloydsLink payment types are grouped in Commercial Banking Online.

     LloydsLink payment groups Figure 1. A comparison of payment types.

    Group payments

    Group payments aren’t available on Commercial Banking Online.

    The creation of grouped payments is not available on Commercial Banking Online but up to 50 individual payments can be bulk approved. 

    You can also import a payment file on Commercial Banking Online containing up to 10,000 entries.

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    For your security, we recommend that you review the beneficiary details of all payments before approving them - for both single and batch payments

    Importing payments, including confidential payments

    A mixture of different payment types may be imported to Commercial Banking Online except Bacs multiple which cannot be mixed with another payment type

    There are two ways to import files on LloydsLink

    1. PC Pay (Bacs file): this can contain up to 4,000 entries which are approved as one item. It is processed as a single debit/multi credit payment. There will only be one entry on your statement for the file. This is the equivalent to the file workflow in Commercial Banking Online.
    2. PMT file: this can contain up to 4,000 entries in the file which are grouped into batches of 200. Each payment will be displayed on your statement. This is the equivalent to payment workflow on Commercial Banking Online.

    Importing payments on Commercial Banking Online

    A payment file imported into Commercial Banking Online can have a maximum of 10,000 entries. Bacs multiple payments can also be broken down into batches of 1,000.

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

    Commercial Banking Online has more thorough payment validation than LloydsLink. This is to ensure fewer payments are rejected during the payment process.

    Confidential imports

    On Commercial Banking Online, administrators can restrict access only to users with permissions to see confidential imported payments

    Confidential imports is a function to restrict who can view imported payments. For a user to set a payment as confidential when imported, they must have permission to set an imported payment as confidential.

    Only users with this permission will be able to view or edit confidential imported payments. Administrators are able to grant this permission to users.

    Find out more about importing payments to Commercial Banking Online.

    Payment advices

    Historic payment advices are available for a total of five years on Commercial Banking Online

    Commercial Banking Online offers immediate access to payment advices for 13 months. Using the archive feature, payment advices from the last five years can be retrieved.

    Archive files are encrypted and can be viewed within LloydsLink or can be manually exported.

    Same day entry payment (Lloyds Bank to Lloyds Bank)

    Same day entry payments to other Lloyds Bank accounts is not available on Commercial Banking Online

    Same day payments to third parties with Lloyds Bank accounts can be made using Faster Payments, CHAPS, Euro or international payments, provided the payment is made within currency cut-off times.

    Inter-Account transfers can be used to transfer money to another Lloyds Bank account within your account group.

    The ‘special instructions’ field

    On LloydsLink, it’s possible to request special routing instructions via the ‘special instructions’ field. A different approach is required for Commercial Banking Online

    On Commercial Banking Online, there is an 'intermediary bank' field where you can specify an intermediary you wish to route a payment through.

    Inactive beneficiaries

    When you move to Commercial Banking Online, you can choose to exclude inactive beneficiaries

    Once you have moved to Commercial Banking Online, you will have the option to 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.

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.