Faster Payments KRB & STB

KingKenny

Hi all,


Anyone know is Secure Trust bank does Faster Payments out of their accounts? If so what is the maximum amount?


Also Kent Reliance do they accept faster payments into their accounts? I sent a payment at 1pm, still not in my account?


Thanks

Uxb

Faster payment actually only requires that it be done by the end of the next day.
KRB use an intermediary bank as I recall
So rather than paying your account you pay a holding account in a main clearing bank with your KRC a/c No as reference to ensure it gets allocated to the correct account within KRB.
So expect the KRB data to be updated overnight from their bankers and this would comply with the FP specifications.

KingKenny

Uxb wrote: »

Faster payment actually only requires that it be done by the end of the next day.
KRB use an intermediary bank as I recall
So rather than paying your account you pay a holding account in a main clearing bank with your KRC a/c No as reference to ensure it gets allocated to the correct account within KRB.
So expect the KRB data to be updated overnight from their bankers and this would comply with the FP specifications.

Cheers bud. :beer: