What are the available payment entry methods?

  • The payment methods available to you in Commercial Banking Online depend on the payments and cash management roles currently assigned to you. If you want to use a payment method that you can’t see or select in Commercial Banking Online, please contact your Administrator for more help.

    Freeform payments

    Freeform payments are those payments you create from scratch. You need to select the payment type, and then enter all the payment information such as the debit account, beneficiary and payment amounts before submitting the payment for approval or saving it as a draft.

    You can base a new freeform payment on an existing payment or a payment template, so that detail is already completed, ready for you to edit to the requirement of the transaction you want to take place.

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    Quick entry payments

    Quick entry payments allow you to quickly and effectively create single payments using a payment template or payment template group. Once you’ve selected the payment template or payment template group, all you then need to do is enter the amounts and value dates before submitting the payments for approval. This saves you from having to re-enter the payment details of common or regularly used payments.

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    Payment templates

    Payment templates allow you to create your organisation’s common or regular payments quickly and effectively. For example, if you regularly pay the same vendor for services for your organisation, you could create a payment template to save the vendor’s account details. You’d then use that template whenever you wanted to pay the vendor, saving you the hassle of re-entering their account details every time.

    You enter common payment information such as the debit account, beneficiary or even regularly used payment amounts into a uniquely named template. This template can then be selected when creating repeated quick entry or freeform payments using the same details.

    You can create payment templates from scratch, base a new payment template on an existing payment or template and manage existing payment templates. Once a payment template has been created, it must be approved before it can be used to create payments.

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    Payment template groups

    Payment template groups are sets of payment templates that allow you to create your organisation’s common or regular payments more efficiently. You can group sets of payment templates together for payment batches that typically need to be created at the same time. For example, you could create a payment template group for your organisation’s payroll, with each template containing an employee’s account details. Payment template groups can then be selected when creating quick entry payments.

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    Payment imports

    Payment imports allow you to import payments from a file containing payment information to create batches of payments at the same time. If all the payments are successfully imported, each payment in the file is created as a separate payment with an Entered status which can then be submitted for approval.

    If a payment has been successfully imported but has missing or incorrect information, their status will be Needs Repair and the payment details will need to be modified before the payment can be submitted for approval.

    If the payments are not successfully imported, a file summary import report is displayed so you can check the errors that occurred and fix them in the import file. Once the errors have been fixed, you can try the import again.

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    Create Transfer

    The Create Transfer link allows you to quickly transfer funds between same currency accounts, if you need to transfer funds between different currencies please use the Create Payments option from within Manage Payments.

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Important legal information

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Lloyds Bank plc Registered Office: 25 Gresham Street, London EC2V 7HN. Registered in England and Wales no. 2065. Telephone: 0207 626 1500.

Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under Registration Number 119278.

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.

Lloyds Banking Group includes companies using brands including Lloyds Bank, Halifax and Bank of Scotland and their associated companies. More information on Lloyds Banking Group can be found at www.lloydsbankinggroup.com