Faster Payments

Faster payments are used to transfer funds from one bank account to another.

Checks - Check that the bank account details provided are accurate.

Issues - Be aware that once the funds have transferred, the transaction cannot be reversed and the bank is under no obligation to assist.

Timing - Usually within two hours.

Discrepancies - Make sure bank account details are accurate, that they are authorised for a second pair of eyes and that only a small number of people can authorise these transactions.