Accepting Bank Transfers
How to accept bank transfers as payment for your UK small business — setup, security and best practices.
Table of Contents
Setting up bank transfer payments
To accept bank transfers, include your bank account name, sort code and account number on every invoice. Many businesses also include their bank details in the email body when sending the invoice.
For faster payments, set up Faster Payments so your customers can transfer money instantly using just your sort code and account number. Most UK banks support this as standard.
Making it easy for customers
The easier it is for a customer to pay, the faster you get paid. Include your bank details prominently on the invoice and in the payment instructions. Some invoicing software lets customers click a pay button that opens their banking app with the details pre-filled.
Always include a payment reference on the invoice — usually the invoice number — so you can identify which customer has paid when the money arrives in your account.
Tracking payments
When a bank transfer arrives, match it to the correct invoice using the payment reference. Digital invoicing software can automatically match payments to invoices, saving you from manual reconciliation.
Mark the invoice as paid once you confirm the payment has arrived. This keeps your records accurate and helps you track outstanding payments.
Accept bank transfers with every invoice
Include your bank details automatically and track payments in one place.
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