Faster Payments

GPTKB entity

Statements (28)
Predicate Object
gptkbp:instanceOf gptkb:city
gptkbp:alternativeTo gptkb:CHAPS
gptkb:BACS
gptkbp:availableOn 24/7
gptkbp:containsSettlement near real-time
gptkbp:country gptkb:United_Kingdom
gptkbp:currency GBP
gptkbp:headquarters gptkb:London
https://www.w3.org/2000/01/rdf-schema#label Faster Payments
gptkbp:launched 2008
gptkbp:maximum_transaction_limit £1 million (as of 2024)
gptkbp:operator gptkb:Pay.UK
gptkbp:participants building societies
payment service providers
UK banks
gptkbp:purpose real-time payments
gptkbp:regulates gptkb:Bank_of_England
gptkbp:replacedBy BACS for urgent payments
gptkbp:usedFor online banking
mobile banking
telephone banking
standing orders
direct corporate access
forward-dated payments
single immediate payments
gptkbp:website https://www.fasterpayments.org.uk/
gptkbp:bfsParent gptkb:CHAPS
gptkbp:bfsLayer 5