Faster Payments increases limits from £10k to £100k
The Faster Payments Scheme have announced they are to raise the maximum value threshold for Internet or phone payments from £10k to £100k. This is hopefully good news for online banking users, as this enhanced facility will allow banks to offer higher amounts going through the Faster Payments service. Understandably, this demand has come from some of their corporate customers, and it [...]
10 September 2010
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Faster payments equals more confusion?
Consumer group Which? have branded the system designed to speed up and simplify banking transactions as confusing and unfair. Many bank and credit card customers are still waiting three to four days for money to clear, even though the Faster Payments scheme began two years ago. As many as one in four credit card companies [...]
15 June 2010
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Experian Payments Gateway approved for Faster Payments
Experian announced today that BACS had approved it’s Payments Gateway product, the first business software for fully-automated Faster Payments. Payments Gateway is Experian’s payment processing product, and is the first to achieve approval for unattended use with Direct Corporate Access (DCA) under the Faster Payments Approved Software Scheme, operated by Bacs. This will enable users to fully automate [...]
7 September 2009
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Faster Payments Sort Code Checker
If your bank or building society has confirmed that it can offer the Faster Payments Service and you want to use it you can find out whether the account you are sending money to is able to receive a payment this way by checking the sort code here: http://www.ukpayments.org.uk/sort_code_checker/
29 March 2009
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