Introducing real-time payments for all members

We are delighted to announce that real-time bank payments are now available for all Clockwise members.

To make this possible we have introduced individual sort code and account numbers for every member account. We are pleased to confirm that Clockwise successfully obtained a bank sort code in February 2020 to allow us to provide this improved service to members.

You can view your new account details right now using our online member portal or mobile app. For the best experience, we recommend using your new details when receiving money into your Clockwise accounts.

Faster Payments

All Clockwise saving accounts are now capable of sending and receiving faster payments 24/7 including at weekends and bank holidays. Use your unique Clockwise sort code and account number to receive payments from other UK banks almost immediately into your account. Please note that in limited circumstances it can take up to two hours. Best of all, Faster Payments are provided FREE of charge to all Clockwise members.

Wages & Benefit Payments

It’s not just Faster Payments which benefit from our improved service. BACS payments which are typically used for receiving wages or state benefits have also been improved. Payments will credit your Clockwise account at or just after midnight on the day they are due giving you immediate access to your money. No more waiting for money to hit your account.

To improve this further we have automated all regular transfers to an Engage Card or other UK bank account. This means that if you have prearranged this with us your money will be in the right place at just after midnight ready for when you need it.

Getting Started

Sign in to our secure member portal or mobile app to view your new account details. You can use these details straight away to start receiving faster payments into your account.

For Standing Orders, Wages or Benefit Payments it is necessary to update your account details directly with the bank or organisation which makes the payment. Please note that all existing payments will continue to be received using our previous account details with no interruption to existing services.

Be assured that if you choose not to update your account details you will continue to receive the same service as you have now.

Do you receive Child Benefit into Clockwise?

We are pleased to announce that we have worked directly with HMRC to update all of our members account details. As of April 2020, all Child Benefit payments are being received using your new account details. You don’t need to contact HMRC to change any details.

Protect yourself from fraud

Our Faster Payments are processed instantly and can’t be stopped once sent. This means is it important you are sure the recipient is genuine. This is particularly important if you are paying someone you don’t know for goods or services.

Sending money using Faster Payment is similar to paying with cash and you should only do it with someone you trust.

Clockwise have invested in technology to detect and stop suspected fraudulent payments. You must keep your contact details up to date so we can contact you straight away if we detect a problem.

At Clockwise we support the industry-wide Take Five campaign which offers straight-forward advice to help protect everyone in the UK against financial fraud. We recommend all members take a look at the Take Five website for useful tips and advice.

Share this post