Faster Payments System FPS - Current state of play

adindas

Yes agree with this ...
The first payment will normally to be scrutinized against money Laundry, etc. as well as for our own safety ....

Milarky wrote: »

The first payment you make to any account will still leave as a BACS. Should now be Faster Payments therefore.

bubieyehyeh

Intelligent Finance have finally enabled outward faster payments today 28th December. However I've yet to confirm this, since after a few hours my test payments have yet to arrive in my other accounts.

Update: Confirmed

Also Metrobank are now able to send faster payments.

IrishGypsy

Just to re-iterate from the Santander FP thread:

IrishGypsy wrote: »

Faster Payments is working up to £100,000 now as long as you're sending to a bank that accepts FP's. New/Exisiting Bill Payments, Standing Orders and Transfers should all be sent by FP.

steve1980

As confirmed by Sultana yesterday, the first payment/transfer will ALWAYS be sent by BACS.

rb10

steve1980 wrote: »

As confirmed by Sultana yesterday, the first payment/transfer will ALWAYS be sent by BACS.

Not any more ... Santander now send ALL payments up to £100k by Faster Payments.

steve1980

rb10 wrote: »

Not any more ... Santander now send ALL payments up to £100k by Faster Payments.

Not according to the branch yesterday.

IrishGypsy

steve1980 wrote: »

Not according to the branch yesterday.

Trust me on this one, they don't send BACS payments anymore unless the receiving institution isn't set up to recieve FP yet - or unless there's a techincal problem that has happened company wide, and I've not heard of any). Lets just say I've dealt with FP's in a closer manner than any of the branches have.

steve1980

The branch are full of kids....should explain things really.

IrishGypsy

steve1980 wrote: »

The branch are full of kids....should explain things really.

A bit unfair to be honest (plenty of staff like to know what's going on and are knowledgable), but like anywhere you'll get staff who don't either pay attention or give a monkeys (unfortunately)

notts_phil

Set up a payment with the coventry building society. It's now a next day payment service. They don't call it faster payments but an improved payment service.