Faster Payments

Faster Payments is a service that allows money to be transferred between bank accounts almost instantly, typically within seconds. It’s designed to make payments quicker than traditional methods, like checks or regular bank transfers, which can take hours or even days. This system is commonly used for personal payments, businesses, and online transactions, enhancing convenience and efficiency. Users can send or receive money through various platforms, including mobile apps and online banking, without needing to wait for the transaction to clear. Faster Payments is particularly valuable for urgent payments or time-sensitive transactions.