Bank payments and local methods · Payment methods
Pay by Bank for online stores: how open-banking checkout works
Checked
Pay by Bank lets a shopper pay straight from their bank account using open banking. They choose their bank at checkout, approve in their banking app or website, and the payment confirms in real time. On Stripe it works for bank accounts in the UK (pounds), Ireland and Finland (euros), with Belgium, France and Germany in private preview. The default range is £0.50 to £10,000. There are no chargebacks, and refunds are allowed for two years.
- Type
- Real-time bank payment using open banking
- Where it works
- UK, Ireland, Finland; Belgium, France, Germany in private preview (Stripe)
- Currencies
- GBP for UK accounts, EUR for European accounts
- Limits
- £0.50 to £10,000 by default
- Refunds
- Full or partial for up to 730 days, free of charge
- Disputes / chargebacks
- None
- Recurring payments
- Private preview (pairs a first Pay by Bank payment with a Bacs Direct Debit mandate)
What PlatformDTC does
PlatformDTC checkout does not offer Pay by Bank today; UK shoppers can pay by card, Apple Pay, Google Pay, PayPal in pounds, Klarna up to £4,000 or Clearpay up to £1,200 on one-time orders.
How a shopper pays
The shopper selects Pay by Bank, picks their bank from the list (for the UK this includes Barclays, HSBC, Lloyds, Monzo, NatWest, Revolut, Santander and others), signs in and approves. They then come back to your site for the confirmation. Only accounts held in a supported country work, even if the same bank operates elsewhere.
What it means for your store
- No chargebacks: Stripe says there is no dispute process that can pull money back for goods not delivered.
- Refunds go back to the same bank account, are free, and are allowed for two years; the original fee is not returned.
- Rarely, a bank approves but the money does not arrive in time; the payment then fails and any late funds go back to the shopper automatically.
- Not available in Stripe Checkout's subscription mode or in the express wallet row.
Frequently asked questions
- Is Pay by Bank the same as open banking?
- Pay by Bank runs on open banking: the shopper gives their bank a one-off instruction to pay you, approved in their own banking app.
- Can customers charge back a Pay by Bank payment?
- No. Stripe says Pay by Bank has no dispute process that can lead to a chargeback.
- Can I take payments over £10,000?
- Stripe's default limit is £10,000; you can ask Stripe support for higher amounts.
Sources
- Pay by Bank payments — Stripe
Related
- Bacs Direct Debit — UK bank debit under the Direct Debit Guarantee; 4–7 business days to confirm.
- Trustly — Pay-by-bank provider: shoppers approve a payment from their bank account in their bank app.
- SEPA Direct Debit — Euro bank debit across the EU: the shopper gives an IBAN and signs a mandate; you collect later.
- Sofort — Former German bank-transfer method; Stripe discontinued it on 31 March 2025.
- ACH Direct Debit — US bank-account debit through the ACH network; up to 4 business days to confirm.
- PayTo — Australian real-time bank payment: the shopper approves a PayTo agreement in their banking app.
- FPX — Malaysia's online banking payment run by PayNet; shoppers pick their bank and approve.