Faster Payments
Personal BankingOn the 21st September 2018 The Access Bank UK Limited joined the Faster Payments scheme as a direct participant. As a customer you are able to receive and send Faster Payments into and from your account. This enables much quicker sterling-denominated payments between your account and other UK banks and building societies.
- A Faster Payment can normally be made 24 hours a day, 7 days a week, and 365 days of the year.
- A payee will usually receive the payment immediately, however it may take up to two hours.
- Payments can be made through online banking or by telephoning the Bank.
- There is a maximum limit for online banking payments, for personal customers the limit is £10,000, for Business (Corporate) customers the limit is £100,000.
- Should you wish to send a Payment above the online banking limit you will need to speak with your Relationship Manager, alternatively you can call our support team on 0333 222 4516 or +44 1606 813 020 (if calling from outside the UK). The maximum limit for these payments is £250,000, which is the limit set by the Faster Payment scheme.
- Payments above £250,000 will be sent via CHAPS.
Faster Payments is supporting the launch of a major new campaign designed to tackle Financial Fraud. For further information and to check if you can send and receive a Faster Payment visit UK Payments Website.
Availability/Cut-Off Times
- Telephone Banking is available Monday to Friday between 9am – 5pm (excluding UK Bank Holidays).
- Online Banking is available 24/7.
- Alternatively you can telephone the Bank between 9am-5pm (excluding Bank Holidays) payments are subject to cut-off times.
- Cut-off times are how far in advance you must submit your payment request to us, so that we can send the funds on the date you have requested. Cut-off times vary according to the payment type and the currency you are sending. If you make your payment after the cut-off time, we will process your payment on the next working day. (See table below).
- Payments are subject to internal control checks and may require contact with authorised signatories to verify payment details.
| Type of Payment | Method of Payment | Cut-off Time |
|---|---|---|
| Faster Payment | By Telephone Online Banking |
3.00pm 6.00pm |
| CHAPS | By Telephone Online Banking |
3.00pm 6.00pm |
| International GBP/EUR | By Telephone Online Banking |
2.00pm 2.00pm |
| International USD | By Telephone Online Banking |
3.00pm 6.00pm |
| Own Account and Inter Account Transfers (between Accounts held at The Access Bank UK Limited) | By Telephone Online Banking |
3.00pm Immediate – 24/7 |