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Q:

What is a standard domestic payment?

A:

This is a sterling payment to a beneficiary in the UK. After you select the ‘Date payment to arrive’ (when the payment is to be received by the beneficiary bank), amount and credit account details, Bankline will confirm how the payment will be sent.

The types of standard domestic payments are:

  • Immediate Faster Payment (IPAY) – for payments of £250,000 and under, for value today where the beneficiary’s bank accepts Faster Payments.
  • Next Day Faster Payment (NPAY) – for payments of £250,000 and under, for value tomorrow where the beneficiary’s bank accepts Faster Payments.
  • Future Dated Faster Payment (FPAY) – for payments of £250,000 and under, for any future value date where the beneficiary’s bank accepts Faster Payments.
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