This page contains information intended for customers of businesses who use Tink's Pay by Bank solution (end-customers). Read the FAQs below for more information about Pay by Bank.
Pay by Bank is a secure and efficient payment method that allows you to make online purchases directly from your bank account. It removes the need for third-party apps by connecting you directly with your bank. Businesses partner with Tink, a wholly owned subsidiary of Visa Inc., to initiate your payment which is then processed and executed by your selected bank.
Security: Transactions are secured using the highest possible security standards.
Convenience: Pay with just a few taps — no need to enter card details or create additional accounts.
Speed: Payments are processed quickly, often instantly.
Transparency: Direct connection to your bank ensures clear and transparent transactions.
Strong Customer Authentication is a requirement for authenticating online payments that was introduced in connection to the EU’s revised Payment Services Directive (PSD2). Its purpose is to add an extra layer of security and prevent fraud related to online payments. Essentially, it requires banks to request additional forms of validation to confirm someone’s identity in order to complete online payments. In practical terms, SCA boils down to multi-factor authentication (MFA), sometimes also referred to as two-factor authentication(2FA). That is, using at least two out of three possible forms of identification:
Knowledge: something you know –such as password or PIN
Possession: something you own –such as a mobile phone or other device
Inherence: something you are – an individual characteristic, usually relating to biometrics, such as fingerprint or FaceID
When you choose Pay by Bank at checkout, you can then select your bank from the list, and you’ll be redirected to your bank’s online banking portal or mobile app. After logging in, you can review the transaction details, choose which bank account to fund the transaction (if you have multiple accounts with the selected bank), and authorise the payment with Strong Customer Authentication aka SCA (e.g.FaceID or fingerprint). Once approved, the funds are transferred directly from your bank account to the recipient account.
No registration is required to use Pay by Bank. As long as you have an online banking account with a supported bank, you can usePay by Bank immediately.
Pay by Bank is supported by a wide range of banks across different countries. If your bank is listed at checkout, you can proceed with the payment. You can find our full list of covered banks here.
If your bank isn’t listed, you won’t be able to use Pay by Bank for that particular transaction. You can choose another payment method provided at checkout.
Typically, there are no additional fees for using Pay by Bank, and in some cases Pay by Bank may offer a lower fee than other payment methods. However, it is always best to check your payment summary before completing your transaction. Applicable bank fees may apply.
Payment limits depend on your bank's policies, your bank account settings, and Tink's policies. Generally, these limits match those for other online banking transactions. Check with your bank if you're unsure about your transaction limits.
Payments made using Pay by Bank are typically processed instantly but may take up to 1 business day for certain transfers.
Yes, Pay by Bank is highly secure. It uses the highest level of security standards,Strong Customer Authentication (e.g. FaceID or a fingerprint), and encryption. Your banking credentials are never shared with the recipient or any third parties.
If you see an error message while paying or your payment fails, you won’t be charged. In most cases you can successfully complete your payment by trying again. If you're still unable to pay, you can try another payment method, or get in touch with the merchant or your bank.
Yes, refunds are possible with Pay by Bank and the process is similar to refunds with other payment methods. However, it is always best to understand and refer to there fund policy for the business you are transacting with.
Merchants and businesses partner with Tink, a wholly owned subsidiary of Visa Inc., to initiate your payment which is then processed and executed by your selected bank. When you Pay by Bank, only necessary information to complete the transaction is made accessible to Tink. Any biometric information, such as FaceID or fingerprint data, will always remain encrypted and never leave your device.
Yes, Pay by Bank is compatible with both desktop and mobile devices. As long as you have access to your online banking via your mobile device, you can use Pay by Bank for payments. On a desktop, you may be asked to scan a QR code with your phone to verify your purchase with your bank.
If the transaction is interrupted, you can usually restart the payment process. Check your bank account to ensure no payment has been deducted before trying again. In some cases, you will not be able to retry your payment, in which case we suggest using an alternate payment method.
After the payment is completed through your bank’s portal, you’ll be redirected back to the checkout with a confirmation message. Additionally, you should receive a payment confirmation from your bank, either via email, SMS, or within your online banking portal, depending on your bank.