Frequently asked questions

Payko allows UK businesses to pay rent and other business payments using a credit card, even when the recipient only accepts bank transfer.

Payko is designed for UK-based businesses making business payments such as rent, supplier invoices, business rates, utility bills and HMRC payments. That includes limited companies, sole traders and registered charities.

Yes. UK limited companies, sole traders and registered charities can all use Payko. Verification works the same way and takes minutes whatever your structure.

For sole traders, the card should be in your own name as the business owner. For companies and charities, it should be in the name of a director or registered officer.

Yes, depending on your card rewards rate and how you redeem points. Payments through Payko are treated as a normal purchase, not a cash advance, so they earn rewards and sit within your interest-free period like any other spend.

Important: rewards, cashback, and points are earned through your credit card issuer, not through Payko. Payko simply processes the payment using your card. Whether you earn rewards, and at what rate, is entirely determined by your card provider and the type of card you hold.

For businesses using rewards cards, the combination of card points/cashback plus improved cashflow can offset the Payko fee on larger payments such as rent and supplier invoices.

Think of the fee as the cost of keeping your money longer, not as a card processing rate.

Example: £1,500 monthly rent
Fee at 4.9%: £73.50
Days before the money leaves your account (typical statement cycle): ~45
Cost per day of keeping £1,500 in your business: £1.63

Compare that with the alternatives: an overdraft, an invoice finance facility, or paying late. For many businesses, six weeks of cashflow is worth more than the fee.

Any rewards your credit card earns (points, cashback, Avios) are a bonus on top. Rewards are earned through your card issuer, not through Payko, and debit cards do not earn rewards.

For most businesses, it's about both.

Rewards can offset part of the fee, while the real benefit often comes from improved cashflow, especially for large, fixed payments like rent or supplier invoices.

No. Payko does not lend money or provide credit. You use your existing credit card, and your card issuer sets your credit limit, interest, and rewards.

No. Landlords and suppliers do not need an account, app, or any involvement. They receive a normal UK bank transfer, exactly as they do today.

A normal bank transfer from your business. Their bank statement shows your business name (for sole traders, your own name or trading name) and your payment reference. Not Payko, and not our payment partner. They don't sign up to anything and never hear from us.

No. From their perspective, the payment appears as a standard bank transfer with your chosen payment reference.

When you make a payment, you enter the same reference your landlord or supplier would normally expect: your tenancy payment reference for rent, or the invoice number for a supplier payment. As long as this is entered correctly, they'll see it on their bank statement and know exactly what the payment is for, and the transfer itself shows your business name as the sender.

Yes. Business utility bills such as gas and electric can be paid the same way as any other supplier invoice. Enter the provider's UK business bank details and your account or invoice reference as normal.

Yes. VAT and corporation tax can both be paid by card through Payko. HMRC itself doesn’t accept personal credit cards, and where it does take cards it adds a fee it doesn’t disclose upfront; through Payko you can use a personal credit card and see the exact cost before you confirm. HMRC receives a normal bank transfer with your payment reference. Use the reference HMRC expects for that tax: your VAT registration number for VAT, or your Corporation Tax payment reference for corporation tax.

The reference goes with the payment so HMRC matches it to your account automatically. Enter it exactly as shown on your HMRC login or payment demand.

No. Payko does not support mortgage repayments or payments towards any loan or credit agreement. Card scheme rules do not allow one form of borrowing to be repaid with another, so payments to lenders cannot be processed.

Payko is designed for business operating costs: commercial rent to a landlord, supplier invoices, business rates, utilities and HMRC payments.

Payko is for your own business's operating payments. A small number of things can't be processed by card under our payment partner's rules:

• Personal purchases, or anything unrelated to the registered business
• Payments made on behalf of another person or business
• Debt or loan repayments, including mortgages
• Insurance premiums
• Currency hedging or foreign-exchange trading

Everything Payko is designed for is fully supported: commercial rent, supplier invoices, business rates, utilities and HMRC.

Business rates and utility providers often expect a specific reference format, usually your account number or a payment reference unique to your business, so their systems can match the payment correctly. Before making the payment, we'd recommend checking your bill, online account, or the provider's website (e.g. your local council or utility company) for the exact reference they ask you to use for bank transfers.

Your recipient is usually sent the funds the next working day after you pay, usually by mid-afternoon. This is not guaranteed: weekends and UK bank holidays push it back, and occasional compliance checks can add time.

If you pay on a working day, your recipient is normally sent the transfer the following working day. Weekends and UK bank holidays do not count. A payment made on Friday or over the weekend is normally sent on Tuesday. Timing is typical rather than guaranteed.

No. Your card is charged immediately, but the bank transfer to your recipient is normally sent the next working day. This is standard across card-to-bank payment platforms.

We recommend paying one or two working days before the due date, so weekends and bank holidays never catch you out.

Yes. You'll receive an email confirmation when a payment is made, showing the amount your recipient receives, who it went to and the reference used. Your dashboard shows the full breakdown including the fee for every payment.

Payko accepts UK-issued Visa and Mastercard credit and debit cards, personal and business, as long as the card is in the name of a company director or registered officer of the verified business (for sole traders, your own name as the business owner). American Express is not currently accepted. Amex cardholders will need to use a Visa or Mastercard to make payments through Payko.

No. Only UK-issued Visa and Mastercard cards are supported. This ensures consistent fees and reliable processing.

Yes, on credit cards only. Rewards are earned through your credit card issuer's rewards programme, not through Payko. Payko simply processes the payment using your card. Whether you earn points, and at what rate, is determined entirely by your card provider.

Debit cards do not earn rewards or points. If maximising rewards is your goal, use a personal or business credit card.

No. Payko payments are processed as a standard card purchase, not a cash advance or quasi-cash transaction. That means no cash-advance fees or immediate interest from your card issuer, and your payment earns rewards and sits within your interest-free period like any other purchase.

Your card statement will show the name of our payment partner, which is displayed clearly at the payment step before you confirm. As always, your card issuer's own terms apply.

Yes. Personal or business, credit or debit, Visa or Mastercard, as long as the card is in the name of a company director or registered officer of the verified business.

Payments count as a normal purchase on your statement, not a cash advance, so rewards and your interest-free period work as usual. Whether you use a personal rewards card or a dedicated business card, Payko accepts both provided it is a UK-issued Visa or Mastercard and you are the cardholder. Your card issuer's terms apply.

Yes. The card should be in the name of a company director or registered officer of the verified business, the business itself, or, for sole traders, your own name as the business owner. Using a card registered to an unconnected third party is not permitted.

One flat rate: 4.9% per payment, whatever card you use. There is no monthly subscription, no setup fee and no service fee. You only pay when you make a payment, and the exact cost is shown before you confirm.

No. There are no setup fees, payout fees, monthly subscription fees, or hidden charges. You only pay the flat 4.9% fee when you make a payment. Nothing else.

You can, but there is rarely a reason to. A debit card payment leaves your account straight away and earns no rewards, so you pay the fee without the cashflow benefit. Payko makes sense on a credit card; if you would be paying by debit, a normal bank transfer is usually the better option.

No. The recipient receives the full payment amount. Fees are paid by you, not deducted from the recipient.

Every payment is charged at the same flat rate of 4.9%, whatever card you use. You will always see the exact fee and total before confirming payment, with no surprises.

No. There is no monthly subscription, no minimum contract, and no commitment. You only pay when you make a payment. You can stop using Payko at any time.

Verification is required under UK anti-money laundering (AML) regulations and is mandatory before any payment can be processed. It protects all parties from fraud, helps prevent chargebacks, and ensures Payko remains compliant with UK financial regulations. Verification takes around 5 minutes and only needs to be completed once.

Most businesses are approved instantly, and nearly all within the hour. You can make your first payment as soon as verification is approved.

During your one-time business verification you'll be asked for a recent business bank statement and photo ID for a director. Some businesses are also asked for proof of the director's home address, and companies incorporated within the last 12 months for how the business was first funded. After that, there is no paperwork per payment, ever.

Because of that, you are responsible for entering your recipient's details correctly. We show them back to you before every payment, and documentation is only requested if your payment patterns change significantly.

Occasionally, yes. If your payment patterns change significantly, for example a much larger payment than usual or a new type of recipient, you may be asked for supporting documentation such as an invoice or tenancy agreement before the payment is processed.

This is a routine part of how regulated payments work. It is quick, it is rare, and for day-to-day payments you will never be asked for anything.

Yes. We carry out standard KYC (Know Your Customer) and KYB (Know Your Business) checks as part of onboarding, in line with UK AML regulations. You cannot make payments until verification is approved.

Yes. Every card payment is protected by 3D Secure, and your card details are entered on our payment partner’s secure checkout, never on Payko’s servers. Payments are processed by an FCA-authorised payment provider and client funds are safeguarded in accordance with UK regulations. See the Client Notice on our Compliance page for full details.

Payments on Payko are processed by an FCA-authorised payment provider, which safeguards client funds in accordance with UK regulations. Payko never holds your money. Full details, including who processes and holds your funds, are in the Client Notice on our Compliance page.

Chargebacks are handled through standard card network processes. Business verification and 3D Secure on every payment significantly reduce the likelihood of disputes.

Contact us and we can confirm whether the transfer was sent, along with the date, amount, and reference used. Every payment leaves a full audit trail with our payment provider, including confirmation of the exact account it was sent to. If a payment was sent successfully to the account and reference you provided, Payko is not responsible for resolving disputes about whether the recipient has correctly recorded the payment in their own accounts, for example matching it to your tenancy or invoice. That should be raised directly with the recipient or their bank.

Once funds have been sent to the recipient by bank transfer, payments cannot be reversed.

Yes. Payko currently supports UK businesses, UK-issued Visa and Mastercard credit and debit cards, and UK bank accounts only. The recipient (landlord or supplier) must hold a UK bank account with a valid sort code and account number. International payments are not supported.

You can find full details on our Compliance page.

Email support@payko.co.uk or use the contact form. We aim to respond to all enquiries within one business day.