browse
Time Frame Overview
| Payment Type | SWIFT (Priority) | Local (Regular) |
|---|---|---|
| Cutoff time (UK Time) |
Currencycloud B.V. clients: 4.15 pm |
24 hours a day processing (Monday - Friday). |
|
Currencycloud Ltd. clients: 5:00 pm |
||
| Delivery time frame | 0 days | 0 days |
| Maximum payment size | No limit | £1,000,000 |
| Payment Scheme | CHAPS (GBP to the UK) SWIFT (GBP to any other country) |
Faster Payments Service (FPS) |
| Destination countries | Any (excluding sanctioned countries) | United Kingdom, Gibraltar, Guernsey, Isle of Man, Jersey |
| Traces | Yes | No |
| Recalls | Yes | No |
| Ultimate payer displayed? | Yes | Yes |
To set up UK Faster payments
Step 1 - add Beneficiary and choose Regular payment method. You can also choose to add the Swift payment details in case you prefer to make a Swift payment in the future.
Step 2 - add the UK Faster payment bank details
For more details on how to set up a Beneficiary follow this link - Add or Set up a Beneficiary to Pay
Additional Information
Required Details for Local (Regular) UK Faster Payment
| Field | Individual | Company | Permitted Data | Notes |
|---|---|---|---|---|
| Beneficiary Entity Type | ✓ | ✓ | ‘individual’ or ‘company’ only | |
| Beneficiary First Name | ✓ | ✕ | 1-255 characters* | |
| Beneficiary Last Name | ✓ | ✕ | 1-255 characters* | |
| Beneficiary Company Name | ✕ | ✓ | 1-255 characters* | |
| Account Number | ✓ | ✓ | 8 digits | We validate that the account number provided is a valid one. We do not currently perform checks against the account name. |
| Sort Code | ✓ | ✓ | 6 digits | |
| Payment Currency | ✓ | ✓ | 3 letter ISO currency code | |
| Payment Amount | ✓ | ✓ | Numeric amount | |
| Payment Reference | ✓ | ✓ | 1-255 alphanumeric characters | The scheme only supports 18 alphanumeric characters. The reference field will be truncated to fit this limit. |
| Payment Reason | ✓ | ✓ | 1-255 alphanumeric characters | |
| Payer Entity Type | ✓ | ✓ | ‘individual’ or ‘company’ only | |
| Payer First Name | ✓ | ✕ | 1-255 characters* | |
| Payer Last Name | ✓ | ✕ | 1-255 characters* | |
| Payer Company Name | ✕ | ✓ | 1-255 characters* | |
| Payer Address | ✓ | ✓ | 1-255 characters* | |
| Payer City | ✓ | ✓ | 1-255 characters* | |
| Payer Country | ✓ | ✓ | 2 letter ISO country code | |
| Payer Date of Birth | ✓ | ✕ | ISO 8601 format (YYYY-MM-DD). |
Comments
0 comments
Please sign in to leave a comment.