The Faster Payments system itself runs round the clock, however, your bank might have cut-off times as early as 5:30pm. Which means if you want to send a payment at 6pm it does not go through until the next morning. Telleroo though does not have any cut-off times which allows you to send money anytime of the day, no matter if it is a weekend or the middle of the night - it will always go through straight away.
How to get started with Faster Payments
Sending individual payments through any online business banking in the UK will most likely be a Faster Payment, meaning to send individual FPS is very 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:
- Upgrade regular Business Banking to Corporate Banking (eg. Barclays.Net)
- Use Telleroo Batch Payments
- Connect to Telleroo Faster Payments API for higher volumes
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.