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Q:

What is the Faster Payment Service limit?

A:

The current Faster Payment Service limit is £1 million.

The limit for Bulk Payments is £1 million for each beneficiary.

If your payment amount exceeds £1 million you will need to convert it to a CHAPS payment by selecting Convert to CHAPS at the bottom of your payment page.

Note - you cannot convert a bulk list to CHAPS.

All payments keyed under the Standard Payment option will be sent as a Faster Payment.

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