I don’t know if this has been mentioned before but there was something new in my Lloyds Bank app today.
It was time to pay my Lloyds Bank credit card and I noticed a new feature today that lets you pay the card from an account at another bank. At first I thought it was just going to give me bank transfer details to use with another bank but as I progressed through the screens I thought it was going to set up a direct debit. However, I then noticed it said payment would be received in 2 hours. So I continued further and it turns out this is a new “Payment Initiation” feature using open banking.
I was able to enter the amount to pay and then directed to the other bank’s app to confirm the payment. The payment was then made from the other bank to Lloyds Bank and appears on the other bank’s app as “Lloyds Standard Mastercard via Lloyds Bank Payment Initiation App”.
The payment has been received by the credit card as if I had done a bank transfer to it.