Periodic Payments

Further reading on how to create periodic payments with Yapily.

Introduction

Periodic payments are payments which the user can configure from their bank to pay an entity based on a schedule. In the UK, this is also known as a standing order. It is possible to create either domestic or international periodic payments provided that the Institution supports either DOMESTIC_PERIODIC_PAYMENT or INTERNATIONAL_PERIODIC_PAYMENT in the feature array.

NOTE: Open Banking only provides the means to send the payment initiation request to the Institution so it is not possible to modify or cancel a periodic through Open Banking, nor is it possible to receive confirmation of the whether each payment in a periodic payment was successfully credited to the payee bank account.

Payment Frequency

The paymentFrequency should be set for periodic payments. The enumerations available are summarised in the table below.

Description executionDay intervalWeek intervalMonth type
Every day - - - DAILY
Every working day - - - EVERY_WORKING_DAY
Every 15th day of the month 15 - - CALENDAR_DAY
Every week, on the 3rd day of the week 3 1 - WEEKLY
Every 2 weeks, on the 3rd day of the week 3 2 - EVERY_TWO_WEEKS
Every 3 weeks, on the 3rd day of the week 3 3 - WEEKLY
Every month, on the 2nd week of the month and on the 3rd day of the week 3 2 1 MONTHLY
Every month, on the first day of the month 1 - 1 MONTHLY
Every 2 months, on the 15th day of the month 15 - 2 EVERY_TWO_MONTHS
Every 3 months, on the 15th day of the month 15 - 3 MONTHLY
Every 6 months, on the 15th day of the month 15 - - SEMIANNUAL
Every 12 months, on the 3rd day of the month 3 - - ANNUAL
Every quarter - - - QUARTERLY