Eligible investment payments
Explore repeat contributions to qualifying investment products, subject to product and scheme eligibility.
Bank on File Financial Services
Commercial variable recurring payments for financial services
Commercial variable recurring payments for eligible investment, pension and financial account payments.
Explore payment uses ↓A clearer route from bank account to contribution.
Bank on File Financial Services explores commercial variable recurring payments for financial services, with a focus on eligible investment payments, pension contributions and financial account funding.
Commercial variable recurring payments (cVRP) for financial services offer a potential bank payment option for the use cases below.
Make repeat contributions easier to manage. Explore bank-authorised payments that fit eligible financial products and the customer’s chosen payment limits.
cVRPs allow repeat bank payments under a customer’s continuing consent, within agreed limits. The customer can review or withdraw that consent.
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Bank on File Financial Services: payment use cases.
Pension contributions
Consider variable contributions where the pension provider, product rules and payment integration support them.
Other eligible account payments
Assess qualifying deposits, insurance or mortgage payments with your provider before defining the customer journey.
Illustrative applications. Availability depends on the eligible payment flow, participating banks, payment provider and integration.
An example journey
How commercial VRP could work in financial services.
A pension customer agrees a payment limit with their provider. Later contributions could be collected under that permission where the product and payment setup allow it. Any change to investment instructions remains a separate decision.
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 financial services providers
Start with the right payment journey.
Map payments to customer accounts, confirm product eligibility and keep payment consent separate from investment instructions and product disclosures.
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: financial services FAQs.
Does cVRP make every financial product eligible?
No. The Wave 1 model specifies qualifying financial products and accounts, including an FSCS eligibility condition for relevant products. Confirm the exact scope with the payment provider; a payment method does not establish product protection or investment suitability.
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.
Let’s explore regulated financial services payments.
Discuss your use case and customer journey.
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