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Benefits of Faster Payments
- One-off payments processed almost at the touch of a button.
- Recipients typically receive funds within minutes.
- Available 24/7. Check with your bank to guarantee payments on weekends.
- Click here for more information regarding how Faster Payments are processed
- Available via online and telephone banking.
- Send and receive payments of up to £250,000 with all UK banks – to find the transaction limit for your bank or building society click here.
- Send payments to a mobile number – with no need for sort codes or account details. Find out more about this feature here.
- Only accessible to banks and building societies that meet strict security requirements.
- Innocent victims of fraud are protected from losses caused by unauthorised payments.
- More information on staying safe is available here: www.fasterpayments.org.uk/protect-fraud.
To find out more about steps you can take to stay safe when banking online, visit www.financialfraudaction.org.uk.