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What is Faster Payments?

Faster Payments is a payment method that allows fast and secure account–to-account transfers of funds that leverages the open banking experience allowing customers to send or receive money instantly. It is regulated by the UK’s Financial Conduct Authority (FCA) and cuts a lot of steps from a typical online payment process, enabling users to pay fast and securely via the use of their bank accounts, provided that their bank is a member of the Faster Payments scheme. By using faster payments you can top-up and withdraw money for free in just a few minutes from your OKTO account.

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