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# Choose a bank connection

This page compares the bank connections of 365 business Banking with their advantages and disadvantages: PSD2/XS2A, EBICS, camt/pain files and payment service providers.

You do not have to decide on a single route. Every bank account has an [account information service and a payment initiation service](account-information-payment-initiation.mdx), and each can use a different route, for example statements via finAPI and payments via EBICS.

## Connections compared

|  | **PSD2/XS2A via finAPI** | **EBICS** | **camt / pain File** |
|---|---|---|---|
| Value in the field | *SEPA Bank Account* | *SEPA Bank Account (EBICS)* | *Bank Account (camt File Import)* / *(pain File Export)* |
| Basis | your online banking credentials | an EBICS contract with your bank | none other than your existing bank access |
| Setup | minutes: fill in a web form | days: initialization letter by post | minutes: two settings for the file formats |
| License | *Banking* | *Banking* and *EBICS Connection* | *Banking* |
| Outside connection | yes, via finAPI | yes, directly to the bank | **none** |
| Bank statement | retrieved | retrieved | you download the file and import it |
| Payment | approval by TAN in the web form | electronic signature with your key | a file is created, you upload it to your bank |
| Payment in the background | no, a person is always required | yes | no, a person is always required |
| Feedback from the bank | via the next bank statement | status report per submission | via the next bank statement |
| Daily limit | your online banking limit | your EBICS contract limit | your bank access limit |
| Direct debit | depends on the bank | if your EBICS contract includes it | yes, SEPA only |
| Standing order | depends on the bank | no | no |
| Instant credit transfer | depends on the bank | if your bank offers it | no |
| SEPA payment to other SEPA countries | yes | yes | yes |
| International payment outside the SEPA rulebook | no | yes, if your bank offers the order (AXZ/XCT) | yes, with the payment scheme *International* |
| Euro urgent credit transfer | no | yes, if your bank offers the order (CCU/XCT-URG) | no |
| Second signature at the bank (VEU) | no | yes | via your online banking |

The functions that your bank allows for a given account are shown after connecting under [Bank account capabilities](../bank-accounts/capabilities.mdx).

<Callout type="info" title="SWIFT via Cobase from version 18.5">
From version 18.5, 365 business Banking also connects bank accounts via SWIFT. The provider is Cobase; bank statements and payments outside the SEPA area are supported. For more information, see [SWIFT payments via Cobase](../features/details/swift-payments.mdx).
</Callout>

**Payment service providers** such as PayPal, Stripe or Adyen are compared separately. They deliver their transactions and fees, and some also collect payments from your customers. See [Payment service providers](../payment-services.mdx).

## Decision guide

**PSD2/XS2A via finAPI** is suitable if …
- you want to start quickly and your bank can be reached via finAPI (see [Supported banks](../supported-banks.mdx)),
- your payment runs stay within your online banking daily limit,
- one TAN per payment run is acceptable for you.

**EBICS** is suitable if …
- you have, or can obtain, an EBICS contract, as is common for corporate customers,
- you want to carry out large payment runs, collective transfers and direct debits without a TAN, also at night or from a job,
- in addition to SEPA payments, you make foreign credit transfers or Euro urgent credit transfers and your EBICS contract includes these orders,
- you use your bank's four-eyes principle (VEU),
- your bank offers EBICS but no PSD2, as is the case with some Swiss banks.

**camt/pain files** are suitable if …
- you do not want to allow automated access to your account, because every file is transferred manually,
- your bank offers neither PSD2 nor EBICS,
- you make international payments for which there is no SEPA scheme and have no EBICS contract with foreign credit transfers,
- you need an interim solution until an EBICS contract is in place.

<Callout type="tip" title="Note">
You can change the decision later. With [Change Banking Services](../connections/mixed-operation.mdx), you switch a bank account. Bank statements, payment reconciliation and entries already posted remain unchanged. Transactions that already arrived through the previous service can arrive again after the switch. Check the first retrievals after the switch.
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## Typical combinations

| Combination | Account information service | Payment initiation service | Use |
|---|---|---|---|
| Quick start | *SEPA Bank Account* | *SEPA Bank Account* | everything via finAPI |
| Large payment runs | *SEPA Bank Account* | *SEPA Bank Account (EBICS)* | automatic statement retrieval, payments without daily limit or TAN |
| Full bank connection | *SEPA Bank Account (EBICS)* | *SEPA Bank Account (EBICS)* | everything directly with the bank |
| Nobody between you and your bank when paying | *SEPA Bank Account* or *SEPA Bank Account (EBICS)* | *Bank Account (pain File Export)* | automatic statement retrieval, every payment is approved through your online banking |
| No connection at all | *Bank Account (camt File Import)* | *Bank Account (pain File Export)* | files only |

Reasons for combining services and the procedure are described under [Combine banking services](../connections/mixed-operation.mdx).

## Prerequisites

- The license for 365 business Banking, for EBICS additionally *EBICS Connection* ([Permissions and licenses](../setup/permissions-and-licenses.mdx)).
- The [company bank access](bank-access.mdx). It is required even without a finAPI account, because verification of payee runs through it.

## See also

- [Bank connections](../connections/index.mdx)
- [Account information service and payment initiation service](account-information-payment-initiation.mdx)
- [Bank access](bank-access.mdx)
- [Connect a bank account](../connections/connect-bank-account.mdx)