Paying using a Faster Payment is a simple, fast and secure payment method, fully regulated, which should be used as all payment methods by Payers for payments to trusted Payees (Beneficiaries/Recipients). Faster Payments manages the technology that is responsible for sending your money from one UK bank account to another and because those transactions are processed in a matter of few seconds, it is difficult to be cancelled or revoked/reversed. If you have been advised that the beneficiary’s account details have changed, check directly with them.

If you report an unauthorized transaction to your bank, they will investigate the circumstances on your behalf. As long as you didn’t authorize the transaction yourself, have kept your details secure and have not been a knowing party to a fraud, your bank will refund you – including any bank charges incurred or interest lost as a direct result of the unauthorized transaction.