R2-22/98 Documents required by the Housing Corporation relating to registered social landlord (RSL) bank details
Distributed to
All registered social landlords
Summary
Advises RSLs of the Corporation's procedure for collecting bank details to enable payment of grant
1 Introduction
1.1 It is the Housing Corporation's policy to make grant payments via Bankers Automated Clearing Services (BACS).
1.2 To enable BACS payments to be made the Housing Corporation requires details of each RSL's bank account. Any RSL receiving grant confirmation from the Corporation for the first time must provide details of the bank account to which it wishes payment to be made. Without this, grant payments will be delayed.
2 Information required
2.1 The RSL must provide in writing the following information on headed paper, signed by the Secretary and two Committee members.
ii bank branch/address
iii bank sort code
iv bank account number
v bank account name
vi a copy of the bank mandate.
2.3 The timetable for receipt of BACS payments by RSLs is as follows:
ii working day two - data is provided to BACS and notification of payment to be made is mailed by the Corporation's headquarters
iii working day three - BACS processes payment data
iv working da yfour - cleared funds are available in the RSLs bank account.
3,1 Whenever an RSL changes their banker, the Housing Corporation need to be notified immediately. The procedure described in paragraphs 2.1 and 2.2 (above) should therefore be followed.
4 Enquiries
4.1 Any queries concerning these procedures should be directed to Sue Peuble at the Housing Corporation's headquarters. Telephone 0171393 2206.
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