Faster Payment Service

MDD_2

Can somebody please tell me who set up the faster payment service. The reasoning as to why is, I am having a dispute with the MBNA and I am saying that the service was set up to provide a faster payment system which in my opinion is a service to help the people it is not one that the banks have control over. From what I can see on the internet MBNA became a member of the service at a later date which to my mind brings them to abide by what the rules are and not formulate their own rules. It is a 24 x 7 x 365 system (that is what computers do).

pcombo

Have you checked using your sortocde to see if you can actually send FPS.

http://www.ukpayments.org.uk/sort_code_checker/

Some banks have faster payment but wont offer it on all accounts, Or will only offer it via telephone banking and not internet.

JuicyJesus

...what?

Nobody owns FPS. It's run by its member banks, and ultimately by CHAPS.

But as to what you want to complain about, again... what?

MDD_2

JuicyJesus wrote: »

...what?

Nobody owns FPS. It's run by its member banks, and ultimately by CHAPS.

But as to what you want to complain about, again... what?

The word "what" is usually used to ask someone to repeat themselves. I never asked who owned FPS I asked who set it up. The context as to why it was set up is important. If you are correct in what you are saying that it is run by its member banks then there is a general confusion on the internet by it's member banks as to what the rules are. The purpose was in the name "Faster Payment". Thank you so much for telling me about CHAPS can you please tell me if this is their web site chapsco.co.uk

MDD_2

pcombo wrote: »

Have you checked using your sortocde to see if you can actually send FPS.
Some banks have faster payment but wont offer it on all accounts, Or will only offer it via telephone banking and not internet.

I appreciate your reply, constructive. I made a FPS payment to MBNA and it was received as a FPS payment. I will check on what you say about the sort code. Thank You.

MrsManda

Details on the FPS, the banks that use it and the value limits can be found on the same website as the sort-code checker already posted - The UK Payments Administration website

pmduk

CHAPS themselves have a page describing the service here

Viper_7

JuicyJesus wrote: »

...what?

Nobody owns FPS. It's run by its member banks, and ultimately by CHAPS.

But as to what you want to complain about, again... what?

It's run by Vocalink on behalf of UK payments.

MDD_2

Viper_7 wrote: »

It's run by Vocalink on behalf of UK payments.

Thank you. I looked at Vocalink website it says ''This is a payment service that maximises straight through processing and is truly self service, reducing operational cost and improving customer service.''
and
"our Real-time Payments Platform is the central infrastructure for the UK's Faster Payments Service".

MDD_2

pmduk wrote: »

CHAPS themselves have a page describing the service here

Thank You. On that page at chapsco website it describes how the FPS system works. Now it seems to me that FPS was set up as a Faster Payment Service for the people to have use of.

MDD_2

The question that needs to be addressed by "whoever" is why have the MBNA bank been allowed to abuse the Faster Payment Service. "They have not been brought to account over the 24 x 7 x 365 abuse".