Example authorisation summary for Periodic Payments
PSUs can setup, through a TPP, an instruction to their ASPSPs to make a series of payments of a specific amount to a specific payee on a number of specified future dates or on a regular basis.
Capturing the payment details
In addition to the generic payment details above, the TPP must also capture:
- The payment execution date (the expected execution date for the first payment)
- The recurring payment date, amount and currency (only if different from the first payment amount)
- The final payment date, amount and currency (only if different from the recurring payment amount)
- The final payment date if the periodic payment is not intended to be open ended
- The number of payments to be made (if the final payment date is not specified)
Displaying the authorisation summary
The periodic payment specific details of the payments in bold must also be displayed in the summary where applicable:
SafeConnect will retrieve bank data needed to facilitate this payment based on your request and provide this information to [Name of your app].
Data is securely accessed in read-only format and only for the purposes of this payment request. This request is a one off, you will not receive any other requests from SafeConnect for this payment.
SafeConnect Ltd is authorised and regulated by the Financial Conduct Authority under the Payment Service Regulations 2017  for the provision of Account Information and Payment Initiation services.
To easily set up payments from your bank to [Name of your app] , we are about to securely re-direct you to your bank where you will be asked to confirm the payment via SafeConnect, an FCA regulated payment initiation provider for [Name of your app] SafeConnect will share these details with your bank, where you will then be asked to confirm the following payment setup:
- Payee Name: Merchant
- Sort Code: 04-00-04
- Account Number: 12345678
- Payment Reference: Merchant ltd.
- Bank name:
- Sort Code:
- Account number:
- First payment due: 01/01/2024
- Amount: £25.00
- Frequency: Monthly
- Last date: Until further notice
About the access
This consent request is a one-off, you will not receive additional requests once completed.
Please read SafeConnect PIS - Terms & Conditions