Hello,
We want to let you know of an upcoming change. From the 29th August 2024 we will launch Variable Recurring Payments (VRPs) sweeping. We do not support non-sweeping VRPs.
Variable Recurring Payments- sweeping
Sweeping is the automatic transfer of money between a customer’s own accounts (me-to-me payments), such as moving surplus funds into a separate savings account or using them to repay a loan or overdraft to cut the cost of borrowing.
Key information
- VRP sweeping will be available to online and mobile banking users only, it is not available to iBB (Business Channel) users due to dual authority payment requirements on this channel.
- The Debtor account must be a current account.
- The Creditor account is mandatory.
- VRP must be under the Faster Payments Service (FPS) limit of £250k and within the customer’s daily payment limits.
- Confirmation of funds for VRP consent must use the VRP endpoint.
- We will only be accepting VRP submission calls where the VRPType parameter has a value of UK.OBIE.VRPType.Sweeping.
- We will only accept PSU Authentication Method of UK.OBIE.SCANotRequired.
Full details on the latest specifications can be found here - https://standards.openbanking.org.uk/
If you have any questions or concerns, please don’t hesitate in reaching out to our support team by email at api@aib.ie.
Best regards,
AIB