Instant Bank Payments is here! Our new feature to help Clear Books users get paid faster by enabling their customers to pay instantly and directly via bank transfer.

How does Instant Bank Payments work?

In order to get paid faster, simply add Instant Bank Payments as a payment option on your invoices. The rest is taken care of, as this automatically adds a button to your invoices which enables your customers to pay you quickly and easily via bank transfer. 

For your customers, it means they can pay invoices at the click of a button.

Bank transfer payments are one of the most popular ways for customers to pay, and Instant Bank Payments makes it so much easier for them. 

No more having to switch between the invoice and their banking app, manually adding the payment details. Instant Bank Payments is seamless and just a few simple steps for your customers. 

Receive your money instantly

And it’s not just instant for the end customer.

When a payment is made by a customer using Instant Bank Payments, Clear Books users receive those funds instantly! No more having your payments held up with processors for up to a week (or even more in some cases).

It even helps take care of some of your bookkeeping admin for you.

Once your customer pays an invoice using Instant Bank Payments, it is automatically marked as paid in Clear Books, updating your customer statement. Payments from bank statements are then automatically matched against your bank account, saving you time and minimising business admin.

Improve cash flow with Instant Bank Payments

Late payments can cripple small businesses, and a whopping 80% of small businesses fail due to poor cash flow. 

With soaring inflation and interest rates, spiralling energy costs and the cost of living crisis, small businesses are feeling the squeeze now more than ever, so keeping a watchful eye on cash flow is crucial. 

There are a few different ways to get your invoices paid quicker, but one of the most effective is to make it as easy as possible for your customers by offering them different, easy  payment options.

It really is simple: the easier it is for your customers to pay you, the faster the money will land in your account. The faster the money lands in your account, the better grip you will have on your cash flow. 

Instant Bank Payments

Safe and secure payments with Open Banking technology

This all sounds great, but how safe is it? 

Instant Bank Payments is a safe and secure method of payment for you and your customers and offers the same level of security and protection as making a bank transfer directly through your bank.

Our Instant Bank Payments feature is available via Plaid, a world leading Open Banking platform, regulated by the FCA. 

Security is our priority, and you can rest assured that you and your customers are in safe hands with Clear Books and Plaid.

Getting started is quick and easy

So the payments may be instant, but how about getting setup?

Clear Books users can get started straight away. There’s no lengthy application forms to plough through or confusing setup processes. It’s simple and straightforward to set up Instant Bank Payments with your existing business current account.

Not a Clear Books customer? You can still get started quickly and easily with a free 30 day trial of the software

Clear Books Online Accounting Software

Clear Books is an award-winning online accounting software for small businesses. Thousands of business owners, contractors, freelancers and sole traders across the UK use our easy-to-use online accounting software to manage their business finances. All users benefit from the outstanding free telephone and email support. Clear Books was launched in London in 2008 and offers a free 30 day trial with free ongoing support and bank feeds. We’re rated as ‘Excellent’ on Trustpilot.

Get a free 30-day trial of Clear Books online accounting software here.

Posted by Clear Books