Faster Payments is a payment service which allows most customers of UK banks to be able to make and receive sterling payments within the UK in a matter of hours, and often minutes.
We have limits for immediate and future dated payments, as well as an overall Daily Payment Limit. Details of the Payment Limits are made available within Internet Banking at the time you make any transaction(s). We currently allow up to £50,000 in any single transaction, £100,000 per day*
Payments made through Telephone Banking and any Internet Banking that are above the Daily Payment Limit, will be processed overnight and will reach the recipient’s bank the business day after the payment instruction was received by us. Any payments processed in this way will count toward the Future Dated and Daily Payment Limit.
*Limits are subject to change without notice, and are based on available funds in your account
Improved cashflow: you’ll be able to send and receive payments quickly which will help you manage your money.