Faster Payments Service definition

Faster Payments Service means the payments service which allows faster electronic payments to be made between accounts in the UK with sort codes capable of receiving faster payments held with banks and building societies which are either members of the service or participants in the service;
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Faster Payments Service or “FPS” means the payments service in the UK which enables payments to be processed in near real time. Both the sending and receiving f inancial institution need to be members of the FPS Scheme and certain f inancial limits apply;
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Faster Payments Service or “FPS” means the payments service for sending money within the UK which enables payments to be processed in near real time;
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Examples of Faster Payments Service in a sentence

  • It is a condition of this Agreement that all Charges due for payment after 1st April 2014, be paid by direct bank transfer into the Capita Business Services Limited bank account at Barclays Bank PLC (Account Number: 00000000, Sort Code: 20-67-59) using any of the following options: • BACS (including the Faster Payments Service) • CHAPS payment system.

  • Standing order payments into your account by Faster Payments Service - a Business Day is a Monday, Tuesday, Wednesday, Thursday and Friday (excluding English bank Holidays).

  • Standing order payments out of your account by Faster Payments Service - a Business Day is a Monday, Tuesday, Wednesday, Thursday and Friday (excluding Bank and other holidays in Northern Ireland).

  • Payments out of your account by Internal transfer or by Faster Payments Service (excluding standing orders) – a Business Day is a Monday, Tuesday, Wednesday, Thursday, Friday, Saturday and Sunday.

  • Payment into your account by Faster Payments Service or by Internal transfer (except for standing orders) – a Business Day is a Monday, Tuesday, Wednesday, Thursday, Friday, Saturday and Sunday.


More Definitions of Faster Payments Service

Faster Payments Service means the payments service which allows faster electronic payments to be made between accounts in the UK with Sort Codes capable of receiving faster payments held with banks and building societies which are either members of the service or participants in the service;
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Faster Payments Service or “FPS” means the
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Faster Payments Service means the service as developed in the banking industry and the central infrastructure which is to be provided by Immediate Payments Limited to provide the ability to make near real time Payments direct into Bank Accounts.
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Faster Payments Service means the payments service which allows
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Faster Payments Service or “FPS” means the payments service in the UK which enables payments to be processed in near real time;
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Faster Payments Service. (FPS) means an Electronic Payment to accounts held with UK banks and building societies.
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Faster Payments Service or “FPS” means the payments service for sending money within the UK which enables payments to be processed in near real time. Both the sending and receiving f inancial
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