Bank payments
Pay by Bank Providers
Pay by Bank products let a customer authorize a payment from a bank account, but the label covers different legal and money-movement arrangements. One product may initiate a transfer directly to the merchant's bank, while another may receive funds before paying the merchant. A company may also sell data or technology products that do not initiate payments. Compare the selected payment product and market, not the company name alone.
Last reviewed
5 company profiles
Reviewed Pay by Bank products
These selected products initiate or process bank payments. Data-only Open Banking, verification, payout and account-infrastructure products are left out. Confirm whether funds settle directly from the payer's bank or through the provider, which legal entity supplies the service, and whether one-time or recurring payments are supported in the required market.
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Ecommpay
Ecommpay combines direct card acquiring, a proprietary payment gateway, local and alternative payment methods, open-banking payments, orchestration, recurring billing and merchant-funded payouts. Ecommpay Limited is the disclosed UK contracting and regulated payment-services entity; the exact acquiring route, external payment-method provider, settlement terms and payout rail remain product- and agreement-specific.
Pay by Bank products
Ecommpay open banking
- Ecommpay open-banking payments
Why this option is listed
The recorded role for Ecommpay open-banking payments is Open Banking payment integration, and the route processes a bank payment. Data-only Open Banking routes are excluded; open this configuration to check payment initiation, direct or intermediary settlement and recurring availability by market.
Role, account, approval and funds
- Role in this product
- Open Banking payment integration
- Account / MID
- Business activation required
- Approval
- Ecommpay reviews eligibility for Ecommpay open-banking payments
- Funds / settlement
- The payer bank and payment rail move funds to the configured beneficiary account; the initiation provider does not hold them
- Ecommpay open-banking payments
Product categories
Merchant accounts & acquiring · Gateways
GoCardless
GoCardless collects one-off and recurring Direct Debit payments, provides Pay by Bank through open-banking payment initiation, and offers UK Outbound Payments from a funded payment account. Direct Debit requires a payer mandate. Pay by Bank requires the payer to authorize the payment through their bank and is available with either GoCardless settlement or, where supported, Direct Settlement to the merchant's bank. GoCardless does not provide card acquiring, a card MID or a card merchant account.
Pay by Bank products
Bank Debit
- Bank Debit
Why this option is listed
The recorded role for Bank Debit is Pay by Bank, and the route processes a bank payment. Data-only Open Banking routes are excluded; open this configuration to check payment initiation, direct or intermediary settlement and recurring availability by market.
Check funds / settlement
Settlement schedule not specified
- Role in this product
- Pay by Bank
- Account / MID
- Business activation required
- Approval
- Applicable GoCardless contracting entity reviews business eligibility for this recurring bank payment product
- Funds / settlement
- Settlement schedule not specified
- Bank Debit
Pay by Bank · GoCardless settlement
- Pay by Bank · GoCardless settlement
Why this option is listed
The recorded role for Pay by Bank · GoCardless settlement is Pay by Bank, and the route processes a bank payment. Data-only Open Banking routes are excluded; open this configuration to check payment initiation, direct or intermediary settlement and recurring availability by market.
Check funds / settlement
Settlement schedule not specified
- Role in this product
- Pay by Bank
- Account / MID
- Business activation required
- Approval
- Applicable GoCardless payment institution reviews business eligibility for this Pay by Bank product
- Funds / settlement
- Settlement schedule not specified
- Pay by Bank · GoCardless settlement
Pay by Bank · Direct Settlement
- Pay by Bank · Direct Settlement
Why this option is listed
The recorded role for Pay by Bank · Direct Settlement is Pay by Bank, and the route processes a bank payment. Data-only Open Banking routes are excluded; open this configuration to check payment initiation, direct or intermediary settlement and recurring availability by market.
Role, account, approval and funds
- Role in this product
- Pay by Bank
- Account / MID
- Business activation required
- Approval
- GoCardless Ltd reviews business eligibility for this Pay by Bank product
- Funds / settlement
- GoCardless Ltd processes bank payments; Payer bank to merchant bank through Faster Payments handles merchant crediting
- Pay by Bank · Direct Settlement
Product categories
Pay by bank · Platforms, wallets & payouts
TrueLayer
TrueLayer provides Pay by Bank acceptance, pay-ins into a TrueLayer payment account, bank payouts and refunds, account data and account verification in the United Kingdom and supported European markets. Bank on File and variable recurring payments are limited to UK merchants, UK customer bank accounts and GBP. TrueLayer Limited and TrueLayer (Ireland) Limited provide the other regulated services. Product availability depends on the contracting entity, merchant regulatory status, country, bank, payment scheme and release channel; TrueLayer does not provide card acquiring or a card MID.
Pay by Bank products
TrueLayer Pay by Bank
- Pay by Bank with TrueLayer-regulated payment services
Why this option is listed
The recorded role for Pay by Bank with TrueLayer-regulated payment services is Pay by Bank, and the route processes a bank payment. Data-only Open Banking routes are excluded; open this configuration to check payment initiation, direct or intermediary settlement and recurring availability by market.
Role, account, approval and funds
- Role in this product
- Pay by Bank
- Account / MID
- Business activation required
- Approval
- TrueLayer Limited and TrueLayer (Ireland) Limited reviews business eligibility for this Pay by Bank product
- Funds / settlement
- TrueLayer Limited and TrueLayer (Ireland) Limited processes bank payments; merchant crediting terms are not specified
- Pay by Bank with TrueLayer-regulated payment services
TrueLayer Bank on File · UK
- Bank on File and recurring bank payments
Why this option is listed
The recorded role for Bank on File and recurring bank payments is Pay by Bank, and the route processes a bank payment. Data-only Open Banking routes are excluded; open this configuration to check payment initiation, direct or intermediary settlement and recurring availability by market.
Check approval
recurring bank payment activation requirements not specified
- Role in this product
- Pay by Bank
- Account / MID
- Business activation terms not specified
- Approval
- recurring bank payment activation requirements not specified
- Funds / settlement
- TrueLayer Limited processes recurring bank collections; merchant crediting terms are not specified
- Bank on File and recurring bank payments
Product categories
Pay by bank · Platforms, wallets & payouts
Trustly
Trustly provides pay-by-bank acceptance, merchant-to-customer bank payouts, recurring bank payments and bank-account data services. Trustly Group AB provides regulated payment services in the EU and EEA, Trustly UK Limited covers its authorized UK payment-institution business, and Trustly, Inc. provides Trustly Pay, Trustly Connect and Trustly Payouts in North America. Trustly does not provide card acquiring, a card MID or a card merchant account.
Pay by Bank products
Trustly Pay · North America
- Trustly Pay · North America
Why this option is listed
The recorded role for Trustly Pay · North America is Pay by Bank, and the route processes a bank payment. Data-only Open Banking routes are excluded; open this configuration to check payment initiation, direct or intermediary settlement and recurring availability by market.
Role, account, approval and funds
- Role in this product
- Pay by Bank
- Account / MID
- Business activation required
- Approval
- Trustly, Inc. reviews business eligibility for this Pay by Bank product
- Funds / settlement
- Trustly, Inc. processes bank payments; merchant crediting terms are not specified
- Trustly Pay · North America
Trustly Payment · Europe
- Trustly Payment · Europe
Why this option is listed
The recorded role for Trustly Payment · Europe is Pay by Bank, and the route processes a bank payment. Data-only Open Banking routes are excluded; open this configuration to check payment initiation, direct or intermediary settlement and recurring availability by market.
Role, account, approval and funds
- Role in this product
- Pay by Bank
- Account / MID
- Business activation required
- Approval
- Trustly Group AB and Trustly UK Limited reviews business eligibility for this Pay by Bank product
- Funds / settlement
- Trustly Group AB and Trustly UK Limited processes bank payments; merchant crediting terms are not specified
- Trustly Payment · Europe
Trustly Recurring Payments · Europe
- Trustly Recurring Payments · Europe
Why this option is listed
The recorded role for Trustly Recurring Payments · Europe is Pay by Bank, and the route processes a bank payment. Data-only Open Banking routes are excluded; open this configuration to check payment initiation, direct or intermediary settlement and recurring availability by market.
Role, account, approval and funds
- Role in this product
- Pay by Bank
- Account / MID
- Business activation required
- Approval
- Trustly Group AB and Trustly UK Limited reviews business eligibility for this recurring bank payment product
- Funds / settlement
- Trustly Group AB and Trustly UK Limited processes recurring bank collections; merchant crediting terms are not specified
- Trustly Recurring Payments · Europe
Product categories
Pay by bank · Platforms, wallets & payouts
Volt
Volt provides Pay by Bank payment initiation, hosted and API-only checkout, bank-account verification, recurring bank-payment capabilities, refunds, payouts and payment-account cash management in supported markets. Volt Technologies Holdings Limited provides regulated UK payment-initiation services, Volt Technologies Limited provides UK electronic-money and payment-account services, Volt Technologies sp. z o.o. provides regulated services in Poland and the EEA, and Volt Connect Pty Ltd supports the Australian route. A Volt Account is a payment account used with Volt payment services, not a card merchant account, acquiring relationship or card MID. Product availability depends on the contracting entity, merchant due diligence, payer bank, payment rail, currency and account configuration.
Pay by Bank products
Volt Instant Payments
2 contract options- Pay by Bank with direct beneficiary settlement
Why this option is listed
The recorded role for Pay by Bank with direct beneficiary settlement is Pay by Bank initiation provider, and the route processes a bank payment. Data-only Open Banking routes are excluded; open this configuration to check payment initiation, direct or intermediary settlement and recurring availability by market.
Role, account, approval and funds
- Role in this product
- Pay by Bank initiation provider
- Account / MID
- Business activation required
- Approval
- Applicable Volt regulated entity reviews eligibility for Pay by Bank with direct beneficiary settlement
- Funds / settlement
- The payer bank and payment rail move funds to the configured beneficiary account; the initiation provider does not hold them
- Pay by Bank into a Volt Account
Why this option is listed
The recorded role for Pay by Bank into a Volt Account is Pay by Bank, and the route processes a bank payment. Data-only Open Banking routes are excluded; open this configuration to check payment initiation, direct or intermediary settlement and recurring availability by market.
Role, account, approval and funds
- Role in this product
- Pay by Bank
- Account / MID
- Regulated Volt payment account for eligible bank-payment funds; not a card merchant account and no card MID
- Approval
- Volt approves the payment-services client and requested account configuration
- Funds / settlement
- Volt records eligible funds in the regulated payment account and moves them through enabled bank rails
- Pay by Bank with direct beneficiary settlement
Volt PayTo Recurring Payments
- PayTo agreement payment initiation in Australia
Why this option is listed
The recorded role for PayTo agreement payment initiation in Australia is Pay by Bank initiation provider, and the route processes a bank payment. Data-only Open Banking routes are excluded; open this configuration to check payment initiation, direct or intermediary settlement and recurring availability by market.
Role, account, approval and funds
- Role in this product
- Pay by Bank initiation provider
- Account / MID
- Business activation required
- Approval
- Volt Connect Pty Ltd reviews eligibility for PayTo agreement payment initiation in Australia
- Funds / settlement
- The payer bank and payment rail move funds to the configured beneficiary account; the initiation provider does not hold them
- PayTo agreement payment initiation in Australia
Product categories
Pay by bank · Platforms, wallets & payouts
Decision brief
Compare the bank-payment role and money route together
Use this page when
You are comparing Pay by Bank, Open Banking payment initiation or other account-to-account products outside the U.S. ACH framework.
Payment role
Distinguish payment initiation from account-data access, bank connectivity, direct debit and payment-account services.
Money route
Identify whether the payer bank sends directly to the merchant or a regulated intermediary receives and later settles the funds.
Rail and consent
Confirm the market-specific rail and whether one-time, recurring, refund and payout flows require separate products or permissions.
Verify for the selected product
- Contracting entity, regulatory role, payer markets and supported banks
- Beneficiary account, funds holder, settlement sender, timing and cutoffs
- Status meanings, recurring consent, refunds, returns and reconciliation
Separate payment initiation from account data
A payment-initiation service starts a payment order from an account held at another payment service provider at the customer's request. In the UK, a business offering that service as a regular activity normally needs the relevant permission unless an exclusion applies. The regulated entity and permission should be checked in the applicable register for the market being offered.
Open Banking data access is a different function. A product that verifies an account, supplies account information, or connects a regulated third party to bank APIs does not necessarily initiate the customer's payment or provide merchant settlement. The comparison below includes transaction-processing paths and leaves data-only and verification-only products out.
Map where the customer's money goes
For direct settlement, the payer's bank sends funds to an account controlled by the merchant or its bank. In an intermediary settlement arrangement, the provider or another payment institution may receive, safeguard, reconcile, and later pay funds to the merchant. The contract should identify the beneficiary account, any safeguarded account, the entity responsible for settlement, and the point at which the merchant receives usable funds.
A successful payment-initiation response is not the same as final receipt by the merchant. Ask what status means initiated, authorized, received, settled, failed, reversed, or returned; then confirm which webhook and report records each transition.
- Payer bank and customer-authentication step
- Payment-initiation provider and contracting legal entity
- Beneficiary or safeguarded account
- Merchant settlement sender, timing, currency, and cutoffs
Name the bank-payment rail and authorization model
Pay by Bank is not one universal rail. A product may use Open Banking payment initiation, a domestic instant-payment rail, a bank transfer, PayTo, a direct-debit mandate, or another market-specific arrangement. Coverage should identify both the customer's country and bank and the merchant country in which the provider can contract and settle.
ACH and eCheck in the United States have their own Originator, ODFI, SEC code, authorization, return, and Nacha rule framework. They should be compared as high-risk ACH processing rather than inferred from a general Pay by Bank claim.
Verify recurring payments, refunds, and returns separately
A one-time bank payment does not prove support for recurring collection. Direct debit, Bank on File, variable recurring payment, PayTo, and merchant-triggered follow-on payments use different consent, mandate, amount, frequency, and market rules. Confirm the specific recurring product and the records the merchant must retain.
Refunds and customer payouts may use a different product or bank rail from the original payment. Ask whether a refund must return to the source account, who funds it, which entity sends it, how long it can be initiated after payment, and how failed or rejected refunds are reconciled.
Compare the operating contract before integration
The useful comparison joins the legal role, bank coverage, money route, technical statuses, and commercial terms for one product. A list of connected banks or countries does not establish merchant eligibility, direct settlement, recurring support, or a guaranteed payment.
- Contracting entity, regulatory permission, and payment-initiation role
- Merchant countries, payer countries, supported banks, rails, and currencies
- Direct or intermediary settlement, safeguarded-account use, timing, and cutoffs
- One-time, recurring, refund, return, and payout capabilities
- Pricing, reserves or holds, transaction limits, reconciliation, and support escalation
- Data retention, consent records, termination, and export obligations
FAQ
Common questions
Is Pay by Bank the same as ACH?
No. ACH is a specific U.S. payment network with Nacha roles and entry rules. Pay by Bank is a broader product label that can describe payment initiation, instant bank transfers, direct debit, PayTo, or another bank-account payment arrangement, depending on the market and product.
Does a Pay by Bank provider always hold the funds?
No. Some products initiate a transfer directly to the merchant's bank account. Others receive or safeguard funds before settlement. The selected product should identify the beneficiary account, funds-handling entity, and settlement sender.
Can every Pay by Bank product collect recurring payments?
No. One-time payment initiation, direct debit, Bank on File, variable recurring payment, and PayTo are separate capabilities. Confirm the supported recurring arrangement, country, bank coverage, consent record, amount rules, and cancellation process.
Is an initiated bank payment guaranteed?
Not by the label alone. Status meanings, available-funds checks, finality, returns, provider guarantees, and merchant settlement differ by rail and contract. Ask which event creates an unconditional payment obligation, if any.