Payment Information FAQs

A range of frequently asked questions and answers about payment information.

What are the different payment information features and types?

All the features available in the API are listed in the FeatureEnum object.

The payment information features are described in the following table.

Does Yapily support batch payments?

Yapily only supports Bulk Payments:

  • Bulk: A group of payments (e.g. in a file) to be paid to multiple creditor accounts from the same debtor account, on the same date, with the same currency and through the same payment scheme
  • Batch: A group of payments (e.g. in a file) to be paid to multiple creditor accounts from multiple debtor accounts. These may involve different payment execution dates, currencies and payment schemes

How long does it take for a single transaction to settle?

Open Banking payments executed through Yapily send the payment instruction to the Institution. As a result, the payment rails used by the Institution to execute the payment ultimately determines how fast the payment settles.

  • The Faster Payments Scheme (for Domestic Payments within the UK): Normally, a Faster Payment arrives within minutes although sometimes they can take up to two hours. Where the recipient is a Faster Payments Participant Bank, they should generally be able to see the credit on their account within seconds and also be able to access the funds
  • SEPA Credit Transfer (for Euro payments within SEPA countries): SEPA Credit Transfer takes a maximum of one banking business day.
  • SEPA Credit Transfer Instant (for Euro payments within SEPA countries): SEPA Credit Transfer Instant is available 24 hours a day, 365 days a year and there are no cut-off times. The maximum execution time for a SCT Instant payment is 10 seconds, and the funds are immediately available for the recipient. In order to facilitate these payments, there are often charges associated with these payments averaging €0.002 per transaction but additional charges by each Institution are usually also applied.

Is it possible to track the status of a payment after completing the payment?

As long as POST Create Payment was successful, you can use the payment-id returned as id in the response and the consentToken generated from the payment authorisation request to receive further execution status details.

For more information on each status, see PaymentStatus.

How do we reference a payment back to a transaction for a given account?

The reference provided in the PaymentRequest will be sent to both the Payer and Payee banks and appear on their transaction lists.

What are the possible payment statuses?

Yapily provides both the PaymentStatus and PaymentIsoStatus which detail both the initiating and execution payment statuses.

The payment consent expiry depends on the Institution, but generally it's not more than a couple of minutes.

Is it possible to initiate EUR payments from UK banks?

This is possible using Yapily in two scenarios:

  • With a EUR denominated UK account to another account from a SEPA member country Institution as a DOMESTIC_PAYMENT
  • With a GBP denominated UK account to another European account as an INTERNATIONAL_PAYMENT

See European Payments for more information.

What is the experience for creating a payment from a joint accounts or business accounts?

For payments that require multiple authorisations, this is revealed once the payment is executed using POST Create Payment. The status of the payment will be PENDING until all the required authorisations have been executed offline. This means that each required authorisation will be completed outside the Yapily domain e.g. Email, SMS, phone call.

The Get Payment Details endpoint can be called which will show the number of required authorisations, the number of completed authorisations and the timestamp of the most current authorisation. During this time, the status of the Consent will be AWAITING_FURTHER_AUTHORIZATION until all the authorisations are given.

Can I create a periodic payment on the same day?

Most traditional banks will not allow you to create a standing order on the same day or on the next day as it takes around 48hrs to process and cancel a standing order. However, through the Faster Payments Scheme, it is possible to set up a payment to start as early as the next working day with no guarantee on the exact time the payment will reach the recipient’s account, although at least 90% of standing order payments are sent by 6am.

See Types of Faster Payments for more information.

What happens if a periodic payment falls on the weekend?

If a periodic payment falls on the weekend, the funds won't be sent to the recipient until the next banking day.

What are the cases for non-execution of a periodic payment?

  • Insufficient account funds: Banks are only obligated to execute payment orders on time, if the corresponding balance is in the account. If even one pence is missing from the full transfer amount, the standing order will not be executed unless there is an agreed overdraft facility. Standing orders will also be executed without balance in the current account, as long as one operates within the agreed credit line.
  • Cancellation of the bank account: If the account is closed, the bank is freed from the periodic payment contract

Can Yapily notify when each periodic payment succeeds or fails?

It is common for each Institution that supports periodic payments to only provide confirmation of the initiation status and not the execution status as this is not mandatory within the Open Banking specification.

As a result, while Yapily can confirm if the initial checks are approved by the Institution, Yapily can not provide confirmation of payment settlement for each payment.

See Domestic Standing Order Payments Endpoints for more information.

Can Yapily notify when a scheduled payment succeeds or fails?

It is common for each Institution that supports scheduled payments to only provide confirmation of the initiation status and not the execution status as this is not mandatory within the Open Banking specification.

As a result, while Yapily can confirm if the initial checks are approved by the Institution, Yapily can not provide confirmation of payment settlement for each payment.

See Domestic Scheduled Payments Endpoints for more information.

Can Yapily notify when each payment in a bulk payment succeeds or fails?

It is common for each Institution that supports bulk payments to only provide confirmation of the initiation status and not the execution status as this is not mandatory within the Open Banking specification.

As a result, while Yapily can confirm if the initial checks are approved by the Institution, Yapily can not provide confirmation of payment settlement for each payment.

See File Payments Endpoints for more information.

Can the user cancel an Open Banking payment after approving a payment?

It is not possible for the user to cancel any Open Banking payment through Open Banking once they have given their consent.

The exception to this is scheduled and periodic payments where if the user goes directly to their bank, they can cancel any scheduled payment before the payment time or any standing order.

What is the maximum amount of money that can be sent through Open Banking?

It depends on the payment scheme that will be used by the bank to execute the payment:

  • The Faster Payments Scheme (for Domestic Payments within the UK): The maximum value threshold for individual payments that can be processed through Faster Payments is currently £250,000
  • SEPA Credit Transfer (for Euro payments within SEPA countries): The maximum value threshold for individual payments that can be processed through SEPA Credit Transfer is currently €999,999,999.99
  • SEPA Credit Transfer Instant (for Euro payments within SEPA countries): The maximum value threshold for individual payments that can be processed through SEPA Credit Transfer Instant is currently €100,000

Despite these limits, individual banks and building societies set their own limits for their retail and corporate accounts which can be significantly lower.