All payments into the ISA can be made by the liquidator or trustee by electronic transfer, accompanied by details identifying the liquidator or trustee making the payment and the estate to be credited. The estate should be identified by the BANCS account ID if known, failing which the name of the estate should be used.

All payments out of the ISA can also be made by electronic transfer at the request of the liquidator or trustee, using the appropriate requisition form, CAU 105, a request for which can be found here or print off a copy here.

 However, the Secretary of State retains an overall discretion to determine the method of payment out of the ISA. This is  to allow for technical or practical problems which could prevent or inhibit the use of electronic payments while the problems are being resolved.

 IPs should note that the fax number quoted on form CAU 105 will be used to send the remittance advice to the IP.

Where the payee is not the IP, the fax number and address of the payee will be required in addition to the bank account information. Form CAU 105 will be modified to cater for the additional requirements.

The initial performance target for BACS payments will be: payment into the payee’s bank account on the 4^th working day after receipt of the requisition by EAS.

Further bulletins will be issued in due course but in the meantime IPs are encouraged to make their views and needs known to their representatives on the EAS User Group. Enquiries about electronic payments can be directed to  Enquiries team on 0121 698 4268 or to the IP Receipts and Payments Manager, Dawn MacDonald on 0121 698 4173.