Getting paid with Pay Now

What happens when your customers decide to Pay Now

Lara Gilman avatar
Written by Lara Gilman
Updated over a week ago

Pay Now makes paying an invoice easier for your customers by making bank transfers simpler.

Say goodbye to the hassle of setting up a new payee and typing in all the bank details, reference and amount. When your customers use iwocaPay to pay you up front, we'll take them straight to their bank with all the details filled in. All they need to do to pay you is log in and confirm the payment.

How does it work?

When your customers click a pay link, they'll now get the option to either pay now or pay later.

Here's how it works if they decide to Pay Now:

  1. We'll ask them which bank they use

  2. They'll be directed to their bank - they can either scan a QR code to open their banking app on a phone, or log into online banking on their desktop

  3. They'll see a confirmation of the bank transfer they're making - they can double check where the money is going, the payment reference and the payment amount

  4. Once they hit confirm, we'll process the payment and they'll be taken back to a screen that lets them know the payment's gone through

How much does it cost?

Pay Now is completely free for you and your customers.

What will it look like on my bank statements?

Your payments will appear on your bank statement as normal. We use the reference you enter when you're creating your pay link as the bank transfer reference, to make it easier for you to reconcile your payments.

Can my customers use it if they're already paying for another invoice with Pay Later?

Yes - anyone can use Pay Now, even if they're currently paying an invoice over 90 days or have an iwoca loan.

Who are TrueLayer?

TrueLayer are a partner we're working with to process the bank transfer. We pass over the details of the payment (like the reference, the amount and the bank details to send it to) to them and they initiate the payment.

TrueLayer are licensed by the FCA to initiate payments using the Open Banking APIs on our behalf.

What banks are available, and what are their transfer limits?

We're not able to make payments from all banks yet, but TrueLayer are working on adding more. Each bank will have different daily bank transfer limits - the list below shows which banks we can make payments from and what their limits are.

If your customer needs to make a payment higher than their limit, they should get in touch with their bank to authorise it.

Bank name

Transfer Limit

AIB (Allied Irish Bank)


Bank of Scotland




Danske Bank


First Trust Bank









Personal customers - £10,000.00 Business customers - £50,000.00




Personal customers - £20,000.00 Premier customers - £50,000.00 Business customers - £50,000.00



Royal Bank of Scotland

Personal customers - £20,000.00 Premier customers - £50,000.00 Business customers - £50,000.00










Personal customers - £20,000.00 Premier customers - £50,000.00 Business customers - £50,000.00

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