Benefits of Direct Participation

There are a number of benefits in accessing the Faster Payments Service as a Direct Member.  Listed below (but not limited to) are some of the benefits you will enjoy when becoming a Direct Member:


  • Real-time payment and receipt capability for customers
  • Contribute to making Faster Payments become an enhanced, more ubiquitous service proposition across the industry
  • Direct participation in the service removes dependency on a sponsor bank
  • Faster Payments members don’t need to rely upon using Faster Payments services from other banks (such as settlement for Direct Agencies)
  • Members have a seat on the Faster Payments Board, directly engaging on the strategic direction of the Company
  • Access to industry-wide expertise through the Scheme’s committees