Payments
Make a UK Faster Payment (FPS)
Near-instant sterling payments up to the scheme limit, any time of day — usually free.
Faster Payments vs CHAPS
Faster Payments (FPS) moves sterling between UK accounts in seconds, 24/7, and is typically free. The scheme value limit is GBP 1 million per payment, though your own per-payment limit may be lower. For routine supplier and payroll payments under the limit, FPS is the everyday choice; reach for CHAPS only when you need guaranteed same-day finality or the amount is above the limit.
Sending one
- 1Payments -> New payment, rail Faster Payments, sterling debit account.
- 2Enter the beneficiary sort code and account number, the amount and a reference.
- 3If Confirmation of Payee is available, check that the name you were shown matches the account holder before you release.
- 4Submit and approve — the beneficiary is usually credited within seconds.
Good to know
Confirmation of Payee (CoP) checks the beneficiary name against the account before the payment leaves. A "no match" result is your cue to pause and verify — it is the single best defence against misdirected-payment fraud.
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About this guide
- Topic
- Making payments
- Reading time
- 2 min
- Views
- 2,761
- Found helpful
- 96% (133/139)
- Updated
- 27 Jun 2026
faster paymentsfpsgbpsterlinginstantuk