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Faster Payments Service – ElseWare

ElseWare

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Faster Payments Service

Faster Payments Service

Faster Payments

f2b has the ability to submit Faster Payments files to the Faster Payments Scheme. Instead of 3 days it takes less than 1 day to process a Faster Payments submission. Some payments can even be accessed within a couple of hours.

Who can benefit from the Faster Payments Service?

  • Ch·   Payments arrive in the destination account on the same day, sometimes as little as 2 hours after submission.
  • Ch·   Cheaper than CHAPS – a CHAPS payment costs roughly £20. The Faster Payments Service can cost as little as 50p to make a payment!
  • Ch·   The Faster Payments Service is open 24 hours a day, 7 days a week, 365 days a year. That includes weekends and bank holidays.

All UK building societies and banks can send and receive Faster Payments. However at the moment you can only send bulk submissions from Barclays bank accounts.

Faster Payments are currently not RTI compliant. For further information, visit the Faster Payments web site or consult your bank.

Pricing

In order to meet development costs, we have a sales target for Faster Payments software. However we believe in a fair pricing scheme here at ElseWare. It is unfair to charge too much for an essential service. So the cost of the software will come down as it becomes more popular.

To find out about our current prices for the Faster Payments software please click here.

If you are interested in purchasing the software or would like further information then please contact us via this email address: info@elseware.org.uk.

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