Frequently asked questions
Faster Payments Service
What is the Faster Payments Service?
Faster Payments is the first new payments service to be introduced in the UK for more than 20 years. For the very first time phone, internet and standing order payments can move within a few hours - almost at the touch of a button.
When you sign your loan agreement before 15:30, your loan is deposited and you will have the funds in your account the same day, subject to final checks. Faster Payments delivers a huge improvement to the UK banking system, where the vast majority of electronic payments used to take up to three working days to clear.
Please check with your bank if they accept Faster Payments, otherwise some banks may take up to 3 working days to clear the funds.
