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 and 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:
We at Telleroo are committed to end this era of slow and expensive business payments to eventually level the playing field, and make business payments as effortless as consumer payments.