Inbound and Outbound 3rd Party UK Faster Payments
We are pleased to announce that the UK Faster Payments payment method now supports 3rd party inbound and outbound domestic transfers for both Corporates and Consumers.
For GBP managed accounts connected to this service, you will receive a sort code and account number when upgrading the managed account. These details can be used for domestic payments in GBP. The payment reference that was previously required to make deposits will not be required when using this sort code and account number.
Please note: Managed accounts may be marked as inactive for a short period of time after opening, whilst the account details are assigned. Once assigned a webhook notification will be sent to you confirming that the account is now active. You should only initiate the upgrade account request once the account is marked active. Find more details on how to upgrade managed accounts in our guide.
If you would like to start using this payment method now, please contact us via the Support Portal so that we can enable it for you.
In due course all GBP managed accounts will be automatically upgraded.
Deposit Transactions - Additional Sender Information
When depositing funds using the new UK Faster Payments payment method, the senderIban, senderName and senderReference fields will be included as part of the managed account deposit transaction.
All three fields are available when retrieving a managed account statement, as part of the entry.additionalFields, and when you are notified of a managed account deposit via the webhook. They are also displayed as part of the managed account activity within the portal.
These fields will be added to SEPA and SWIFT deposits soon.
Affected APIs:
- GET /managed_accounts/{id}/statement
Affected Webhooks:
- POST /managed_accounts/deposits/watch
Consumer place of birth - New Optional Field
When onboarding a consumer identity you can optionally include the placeOfBirth field. If provided, this information is pre-filled for the user when they are submitting their information for KYC.
If the user hasn’t completed KYCm, you can also update the field via the Update Consumer API endpoint.
Affected APIs:
- POST /consumers
- PATCH /consumers
Physical Cards - New Optional second line for name on card
The name on card for physical cards now supports 2 lines. You can optionally specify a second line via the nameOnCardLine2 field when upgrading a virtual card to a physical card. When provided, the second line will also be printed on the physical card itself.
Affected APIs:
POST /managed_cards/\{id\}/physicalPOST /managed_cards/assign