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Faster payments service

January 17, 2012

HMRC now accept payments made by the faster payments service (FPS) into all of their bank accounts, for tax and VAT payments. Payments made with FPS are supposed to arrive in the bank account of the payee on the same day as the funds leave the payer’s account, or the next day. However, different banks set their own daily and transactional limits for FPS. BACs payments will still take three days to reach the recipient bank account. 

CLICK HERE - Faster payments introduced

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