What are the different types of Faster Payments?
There are three types of payment instructions: • Single Immediate Payments (SIPs) this is a single payment that the payer wants to make immediately. • Future Dated Payments (FDPs) Future Dated Payments are payments you can request us to make at a future date. They are arranged through our Anytime Internet and Telephone banking service or through the Branch Funds Transfer service. • Standing Orders (S/Os) this is an instruction a customer gives to their Bank or Building Society to make payments, on a regular basis, to a specified third partys UK Bank or Building Society account.
There are three types of payment instructions: • Single Immediate Payments – this is a single payment, created via the branch, online or telephone banking, that you want to make immediately • Future Dated Payments – this is a single payment, created via the branch, online, or telephone banking (including Notice Account withdrawals or transfers between accounts) that you want to pay on a particular date in the future • Standing Orders – this is an instruction you give to your Bank or Building Society to make payments, on a regular basis, to a specified third party’s UK Bank or Building Society account.
