What kind of innovation in payments would make someone sit up and say, ‘how did we live without that?’
Clearing cheques via a ‘cheque imaging’ process means images of cheques are exchanged between the relevant banks and building societies.
Launched in September 2013, the Current Account Switch Service is a free-to-use service for consumers, small charities, small businesses and small trusts.
Working with participating banks and building societies, we launched Paym in April 2014, and more than 40 million customers are now able to register - representing more than 90% of current accounts.
National payments within the Single Euro Payments Area (SEPA) can now be made using just the IBAN number (the International Bank Account Identifier).