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Acquired

Pay by Bank

Pay by Bank.One-off and recurring.

Collect payments directly from customer bank accounts — instantly, securely, and at lower cost than cards. Two flows on one integration: one-off and recurring Pay by Bank.

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Two flows, one integration

Pay by Bankacross the full payment lifecycle.

One-off Pay by Bank for single collections. Recurring Pay by Bank for everything that repeats.

Pay by Bank

One-off

A single payment the customer approves in their banking app and settles in seconds — built for checkout and one-time collections.

  • 98% success rate: Fewer declines than card payments
  • Get paid faster: Real-time settlement means money lands in hours, not days
  • Lower costs: No card interchange or scheme fees, so you keep more of every payment
  • Protect revenue: No card-scheme chargeback process reduces fraud

Pay by Bank

Recurring

A smarter, more flexible way to take recurring payments from your customers, with variable amounts, clear limits, and full control.

  • Stay ahead of failures with balance checks before you collect
  • Predictable cash flow with real-time settlement over Faster Payments
  • Lower cost per collection — skip card interchange and scheme fees
  • Improved customer experience: let customers set payment caps and manage cancellations

Pay by Bank with Acquired

Why choose Pay by Bank with Acquired.

One-off and recurring Pay by Bank, putting open banking powered payments to work for your business.

Direct bank connectivity.

We initiate payments over connections we build directly to the banks, not through a third-party aggregator sitting in the middle.

  • Fewer hops between you and the bank means fewer points of failure
  • Connections kept up to date so you're not waiting for updates or upgrades
Find out more

Direct connections · UK banks

Barclays
HSBC
Lloyds
Monzo
NatWest
Santander
Halifax
Nationwide
Revolut
RBS
TSB
No aggregator in the middleDirect to bank

Where recurring Pay by Bank wins

Recurring Pay by Bankis the future.

Recurring Pay by Bank provides an alternative rail for repeat payments in the modern world — use it alongside cards for a comprehensive recurring payment infrastructure.

Criteria Pay by Bank Cards Direct Debit
Checkout speed
Cost per transaction
Real-time confirmation
Time to settle
Recurring suitability
Dispute / chargeback risk

Common questions

Pay by Bank, answered.

What's the difference between one-off and recurring Pay by Bank?

One-off Pay by Bank is a single immediate payment — the customer authorises one transaction. Recurring Pay by Bank — also known in the industry as a Variable Recurring Payment (VRP) — is a pre-authorised mandate that lets you initiate further payments within agreed limits without re-authenticating each time.

How does authentication work?

On mobile the customer is redirected into their banking app to approve the payment. On desktop they scan a QR code to hand off to mobile. Either way, authentication happens inside the bank — there's no separate 3DS step.

Are Pay by Bank transactions chargeback-protected?

Pay by Bank is a direct bank transfer, so the card-scheme chargeback process doesn't apply. Disputes are handled bank-to-bank under the Faster Payments scheme rules.

How fast does settlement happen?

Funds typically hit the account in seconds, but can take up to two hours. Acquired also provides a batch settlement process to sweep funds into your external bank account on a daily basis.

Which UK banks are supported?

Pay by Bank covers the full UK Open Banking participant list. Recurring Pay by Bank reaches a slightly narrower set via the UK Payments Initiative — coverage is expanding rapidly. See our docs site for a full list.

Is Pay by Bank cheaper than cards?

Yes — Pay by Bank bypasses card scheme interchange and acquirer fees entirely, which makes it the lowest-cost rail for high-value and recurring collections.

Let's talk Pay by Bank.

Tell us about your collection and recurring-payment needs. We'll show you how one-off and recurring Pay by Bank fit alongside the rest of your payment stack.

  • One-off and recurring Pay by Bank from a single provider
  • Working alongside cards and Direct Debit
  • Comprehensive recurring payment strategy
  • Lowest-cost rail for high-value collections

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