Bank Transfer Payments
Save More Than 90% on Your Bank Transfers
The most secure way for you to accept bank transfer payments at a fraction of the cost.
What is Open Banking?
Open Banking allows your customers to pay you through bank transfer without having to enter or share confidential bank details.
- It’s the most secure method of taking a payment with no risk of fraud or chargebacks.
- You’ll receive your payment instantly into your bank account - no waiting days for it to arrive.
0.6% of transactions have a chargeback – each could cost you from £20 to £100!
TrustistTransfer bank transfers eliminate this risk.
How Does an Open Banking Payment Work?
1
Payment Method
Your customer will either click a PayLink or scan the QR code you present them with.
2
Bank Selection
Your customer will be asked to select their bank account from the list of banks shown to them.
3
Secure Login
They will then be re-directed to their banking app to log in securely and approve the payment.
4
All Done
After they approve the payment in their banking app, you’ll receive the funds immediately.
Frequently Asked Questions
Open Banking is a system that lets you share your banking information with other apps and services through Application Programming Interfaces (APIs), making it easier to manage your money, use new financial tools and perform seamless transactions.
Open Banking payments work by using secure Application Programming Interfaces (APIs) that connect your bank account with authorised apps or services. These apps can initiate payments directly from your bank account, ensuring quick and seamless transactions.
Yes, Open Banking payments are designed with strong security measures. Your data is encrypted and transactions require authentication, such as a PIN or biometric verification, ensuring that your information remains confidential and protected.
Open Banking relies on authorised and regulated third-party providers, ensuring that they meet strict security standards and data protection regulations. Always check for certifications and licenses before sharing your banking details with any app. For Open Banking payments we have 80+ major banks supported.
We have 80+ major banks supported.
