A Faster Payment is a payment you can make from your Co-operative Bank account to other UK bank accounts. This type of payment should reach payees almost immediately.
Faster Payments are facilitated by the Faster Payment Service (FPS).
If you’re making a single immediate payment, a future-dated payment, or a standing order payment up to £100,000 to another UK bank account, it should be sent as a Faster Payment. Please note that future-dated payments and standing order payments can only be processed on business days.
This is a type of payment scheduled for a later date, where you’ve also included a reference.
Payments with references will be displayed in online banking, but future one-off payments that have been set up without a reference will not.
If you want to cancel a future one-off payment that you’ve set up without a reference, please contact us.
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