Direct Corporate Access (DCA) enables Commercial Bank customers to submit Faster Payments directly to the Faster Payments Service (FPS) central infrastructure.
- It is available Monday to Friday on working days between 6am and 2pm.
- DCA payments will be processed within 30 minutes and sent to the beneficiary bank.
- Beneficiary banks which are members of FPS must apply funds to money transmission accounts within 2 hours. In many cases they will do this immediately.
- Payments can be made to FPS addressable sort codes belonging to the 13 member banks
Business Applications for DCA
- Contingency for late submission of BACS payments where the value date is critical e.g. salary payments
- Weekly payroll (allowing later input of data)
- Staff expenses – minimising the time that staff are out of pocket
- Customer service refunds where Faster Payments enables fast resolution.
- Bureaux for valued added services to their clients
- Financial Institutions who are not members of FPS but require a FPS payments capability for their online and telephone banking services
Right First Time
Payments made via the Faster Payment Service are irrevocable, so it is imperative to ensure that your payment details are correct prior to submission. Our BACS payment solutions validate bank account details and ensure that all payments are made correctly at the first attempt, avoiding rejection, misapplied payments and the associated costs.
Our Faster Payments solutions provide our customers with a single transaction gateway, enabling payment management in a single, straightforward solution.
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