Banks not part of FPS

etwallace

I'm sure this has been asked before, but I can't find the answer.

The fasterpayments.org.uk site used to list the Uk banks participating in FPS, (members of fps), but they don't seem to do that anymore. Looks like the list has been taken down, some of the banks not part of fps must have objected to being shown on the list! There is a sort code checker but it only states which banks receive faster payments, not those sending them.

Is there an alternative up to date list which states which Uk banks are fully part of FPS, and those which aren't ? Or can I safely assume that banks which receive FPS also send payments by FPS as well?

Cheers

colsten

I don't know of any UK bank that doesn't offer Faster Payments, out and in.

Some smaller building societies might not offer FPs, or only offer it during working hours.

alanq

Not all UK banks direct participants in the scheme. Most smaller banks (e.g. Shawbrook) and building societies other than Nationwide process payments through a bank that is a participant.

http://www.fasterpayments.org.uk/membership/access-options/direct-membership/current-participants

agrinnall

All Financial Institutions have to abide by the Payment Services Regulations 2009, which since 1/1/2012 have required electronic payments to be completed by the end of the next business day. The only ways to achieve that are CHAPS and FPS, so an FI has to offer one or both of those (either directly or indirectly) or not provide any electronic payments at all. I don't know of any that have taken the latter route but it's possible some Building Societies only use cheques.

By the way, you are wrong anyway, the list of FIs that are full members of FPS is still available here.

http://www.fasterpayments.org.uk/about-us/transaction-limits

Edit: And of course in the list that Alan has provided.

etwallace

Thanks. I can't see TSB in either of those lists, does that mean TSB does not participate in FPS, under their own brand name?

Archi_Bald

TSB do support FP.

agrinnall

You're right that TSB are not listed, and Archi is right that they do offer FPS. When the list was compiled TSB would have been covered by the Lloyds entry, and although they are no longer part of the Lloyds group I wonder if their FPS infrastructure is still provided via Lloyds.

EarthBoy

agrinnall wrote: »

.. although they are no longer part of the Lloyds group I wonder if their FPS infrastructure is still provided via Lloyds.

TSB are still using Lloyds systems until their new owner, Sabadell, migrate everything to their own systems.

colsten

EarthBoy wrote: »

TSB are still using Lloyds systems until their new owner, Sabadell, migrate everything to their own systems.

It is a segregated version of the Lloyds systems, not the systems that also hold Lloyds customer data.

EarthBoy

colsten wrote: »

It is a segregated version of the Lloyds systems, not the systems that also hold Lloyds customer data.

True, but as I understand it the systems are still being managed by Lloyds, not by TSB themselves.

After TSB was separated, I received some of my TSB credit card statements printed on Lloyds stationery. When I rang TSB about this they didn't understand what I was on about. Both TSB and Lloyds statements must be printed at the same place, and I presume they just fed the wrong paper into the machine.

colsten

Yep, it's a sort of outsourcing arrangement, with Lloyds being the service provider.

http://www.cityam.com/article/1401683371/lloyds-pay-computer-systems-tsb