Vocalink helps corporates gain access to the payments network so they can make and receive payments faster.
In this way, Vocalink helps corporates increase efficiently and improve cashflow. Our core payment services offer a choice of batch payments through the Bacs service or single payments, which can be made in near real time through the Faster Payments Service.
Payments can be initiated on their due dates eliminating the need to prepare payments files days in advance
Payments can be made with certainty of outcome, offering a more streamlined, transparent process
Payments can be made immediately, which improves customer service and loyalty
The Extended Industry Sort Code Directory provides instant access to the most up-to-date sort code information. It can be loaded on to multiple computers or a server to prevent payment failures as a result of changing account information.
Payment efficiency is a crucial contributor to organisational success and is also a useful measure of financial health. However, payments information can also be a source of management information that provides vital input into business strategy and decision-making.
Modulus checking allows payment originators to confirm that customer codes and account numbers are compatible before submitting a Bacs Direct Credit of Direct Debit.