Examples of Faster Payments Service in a sentence
We may not be able to carry out a payment instruction if the bank or building society you are sending the payment to is not a member of the Faster Payments Service or a participant in the Faster Payments Service.
If we cannot make a payment using the Faster Payments Service we will notify you or make this information available to you as described in clause 8 and you can contact us to ask if there is any other method available to make the payment.
Faster Payments Service The payments service that allows faster electronic payments between Accounts in the UK with sort codes capable of receiving faster payments held with banks and building societies which are Members of, or participants in, the service.
For example, there is a limit on the value of a payment which you can send through the Faster Payments Service.
Payments received from the Faster Payments Service will be credited to your Account within two hours.