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).
Which types of payments are sent as Faster Payments?
If you’re making a single immediate payment, a future-dated payment, or a standing order payment up to £19,999 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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