Bank-to-bank payments can also be made through Faster Payments. Faster Payments are instant payments up to the value of £250,000 pounds per transfer, which are cheaper than CHAPS. Most banks charge between £1-5 pounds per Faster Payment.
Sending individual payments is simple, mostly free, and accessible to even very small businesses. When it comes to sending more than a handful of payments it becomes more difficult and you are left with three options:
At Telleroo we're committed to end this era of slow and expensive business payments and to eventually level the playing field, making business payments as effortless as consumer payments.