How Much Will Faster Payments Cost?
Charging for faster payments is a commercial matter that will be determined by market forces. There is an expectation that given the payments initially being replaced are part of the BACS interbank scheme (i.e. high volume, low value) that the market pricing will come out much closer to current BACS payment pricing than current CHAPS (low volume, high value) pricing. Thus one might reasonably expect the price to be measured in pence (as for BACS today) as opposed to pounds (as for CHAPS today).
