Accelerate UK payment processing with Faster Payments (FPS)

Reduce payment times for bank to bank payments within the UK from days to milliseconds.

Our Connectivity models

Explore our FPS Instant access models

Direct

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Who is it for?

For small regulated financial institutions looking for long term, high volume access to Instant payments in the UK. Gain access to the Faster Payments scheme with settlement via a Bank of England account.

How does it work?

This is the faster way to gain access to the UK Faster Payments (FPS) scheme. As an FPS Indirect participant, you gain access via your sponsor who will provide liquidity in the form of a pre-funded bank account for net daily activity DR/CR. The sponsor will undertake clearing and settlement on your behalf.

Direct Non Settling

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Who is it for?

For large regulated financial institutions looking for long term, high volume access to Instant payments in the UK without settlement obligations. Gain direct access to the Faster Payments scheme with settlement via a sponsor bank.

How does it work?

As an FPS sponsored participant, you gain full real-time direct access to the Faster Payments scheme via your sponsor who will undertake clearing and settlement on your behalf. You'll receive all the benefits of being a direct participant but without needing a Bank of England settlement account.

Indirect

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Who is it for?

For small regulated financial institutions looking for long term, high volume access to Instant payments in the UK. Gain access to the Faster Payments scheme with settlement via a Bank of England account.

How does it work?

This is the faster way to gain access to the UK Faster Payments (FPS) scheme. As an FPS Indirect participant, you gain access via your sponsor who will provide liquidity in the form of a pre-funded bank account for net daily activity DR/CR. The sponsor will undertake clearing and settlement on your behalf.

The simple way to access Instant payments in the UK

Access the UK Faster Payments Scheme and receive a fully managed service from Form3. Send transactions to sort codes that are used for consumer and business payments in the UK, with a limit of £1M.

 

Fast and efficient implementation

Fast-track to instant payments in as little as 8 weeks with our comprehensive implementation service

Comprehensive Scheme Testing

Hands-on testing and simplified tech development using our sandbox and simulator environment

Insulate from Scheme Change

Form3 is independent of scheme messaging and shields customers from technical scheme or rule changes

Why choose UK Faster Payments?

3.9 Bn Faster payments were processed in 2021. Along with Bacs, Faster Payments is the most popular payment scheme for banks and non-banks wanting to operate in the UK. Speed up the process of bank to bank payments from several minutes to just milliseconds in a truly instant payments experience. 

Form3 has connected more Direct participants to UK FPS than any other provider, with implementation in as little as 8 weeks. Discover why we are the No.1 for UK Faster Payments access.

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