Faster Payments Service

From ACT Wiki
Revision as of 14:12, 12 November 2015 by imported>Doug Williamson (Added link to Treasurer's Handbook)
Jump to navigationJump to search

(FPS).

UK process for electronic payments, typically made via the internet or phone, to be processed in hours rather than days.

It allows credit transfers and standing orders to be paid in near real time. There is a maximum transaction amount. It is operated by VocaLink 24 hours a day, 7 days a week.


See also


Other links

UK Faster Payments Service, ACT Briefing note, 2008