Published Fri, 30 May 2008 14:43:00 +0000
The UK banking industry has launched new Faster Payments allowing
payments to be sent immediately even between banks. The new system is
being phased in over the coming weeks by the major banks. Payments
usually arrive within minutes but can take several hours.

We are happy to accept payment using the new Faster Payment system.
Just as with 3 day BACS payments, it is essential that you quote the
correct payment reference (e.g. A1234A) when making your payments.

If you need to pay us before shipping goods, you will need to tell us
the payment is made using the new system so that we can check as this
is not (yet) automated during the day. However, this will allow goods
to be shipped on the same day as ordering if your payment arrives early
enough in the day.

One small point that is important if using the new system is that we
consider payments to have arrived on the date as shown on our bank
statement. If making payment late at night or over a weekend then that
will be the next banking day. This is relevant if you have left it to
the last moment to pay your bill as the statement date is what counts
for late payment penalties. We have updated the terms and conditions to
clarify this point.

See http://www.fastpayments.co.uk/ for more details on Faster Payments.
See http://aaisp.blogspot.com/2008/05/faster-payments.html