Bank on File E-money

Commercial variable recurring payments for e-money institutions

Commercial variable recurring payments for eligible e-money account top-ups.

Repeat account funding. Clear payment boundaries.

Bank on File E-money explores commercial variable recurring payments for e-money institutions, with a focus on eligible e-money account top-ups and repeat funding.

Commercial variable recurring payments (cVRP) for e-money institutions offer a potential bank payment option for the use cases below.

Explore a repeat funding journey for eligible e-money accounts. Let customers set payment boundaries while your institution manages the account experience.

cVRPs allow repeat bank payments under a customer’s continuing consent, within agreed limits. The customer can review or withdraw that consent.

Payment uses

Bank on File E-money: payment use cases.

Repeat top-ups

Assess whether eligible repeat account funding can be collected under an existing bank authorisation.

Variable funding amounts

Explore top-ups of different amounts within the customer’s agreed consent parameters.

Payment-to-account matching

Design a funding journey that associates each incoming payment with the correct customer account and status.

Illustrative applications. Availability depends on the eligible payment flow, participating banks, payment provider and integration.

An example journey

How commercial VRP could work in e-money institutions.

A customer approves a permitted top-up range. An eligible later funding request could use that consent, with the institution confirming when the account balance has been updated.

Example only; this is not a live service or partnership announcement.

Design the collection around consent.

Show the receiving organisation and proposed payment terms.
Ask the customer to authorise through their bank.
Initiate eligible payments within the agreed limits.
Make payment status, support and consent controls easy to find.

For e-money institutions

Start with the right payment journey.

Confirm account ownership and the complete movement of funds. Set top-up rules, reconciliation and failure messages around the provider’s eligibility assessment.

Assess costs and coverage with your payment provider. Define what happens if a payment fails, consent ends or the customer needs another way to pay.

Commercial variable recurring payments: e-money institutions FAQs.

Is every e-money top-up covered by commercial VRP?

No. The Wave 1 model refers to FCA-authorised e-money institutions and includes exclusions, including certain “me-to-me” transfers and onward-transfer arrangements. Assess the actual flow with your payment provider before treating it as eligible.

Are these services already available through Bank on File?

This page explains potential payment uses. Contact Bank on File to discuss your requirements and confirm the available service, bank coverage and implementation options.

Sector background: Open Banking Limited’s Wave 1 commercial model, April 2025. Payment overview: Open Banking’s cVRP guide. Confirm current eligibility with your provider.

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Discuss your use case and customer journey.

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