Why up-to-date sort code data is important
The pace of change is getting faster all the time, driven above all by the boom in online banking, and the new Faster Payments Service. The sort code data used by the UK payments industry is updated constantly to reflect bank and other financial institution changes.
It’s important because using out of date information can –mean payments are delayed or aren’t processed, and could mean extra costs for businesses, individuals and banks who need to fix the problem. In keeping with Payment UK’s commitment to ensuring payment efficiency, the Sort Code Checker has been developed to help personal and corporate customers alike.and is for the use of personal and corporate customers.
Alongside the Sort Code Checker, Payments UK also introduced best practice guidelines recommending businesses and banks refresh their reference data weekly and smaller businesses do so at least monthly.
The Extended Industry Sorting Code Directory (EISCD)
The EISCD is a comprehensive database of payments-related information for financial institutions participating in the UK Payment Schemes: Bacs, CHAPS, Faster Payments and Cheque and Credit Clearing. The directory is updated weekly, and is available on a subscription basis from VocaLink. More details can be found on Vocalink’s website.
The Sort Code Checker is provided for informational purposes only. Whilst every effort is made to provide accurate data, users acknowledge that UK Payments accepts no liability whatsoever with respect to its accuracy.
*Some types of savings & investment accounts cannot accept Direct Debit instructions, for more information regarding individual accounts, we recommend that you speak to your bank or building society.
Only your bank can confirm the services that are available to you. If you are making an important payment, which is time critical, we recommend that you speak to your bank first to confirm the services on offer to you.
Individual sort codes are allocated by members of the UK payment schemes (Bacs, CHAPS, Faster Payments and Cheque and Credit Clearing) to those financial institutions that participate in one or more of the Schemes.