Types of Payments
Here you will find information about the different types of payment methods and payment systems widely-used in the UK.
Automated Payments
Technology continues to impact on the way we make payments and increasingly we are choosing automated ways to pay. More
Cheques and bankers' drafts
This section explains what cheques and bankers’ drafts are; what the cheque clearing cycle is; and explains the 2-4-6 changes. More
Cash
2,500 years after the first use of coins as payment tokens, in volume terms, cash is still our most common payment method. More
CHAPS
This section includes information about CHAPS, which is an electronic bank-to-bank payment made within the UK in sterling. More
Cross-border payments
This sections includes information about the Single Euro Payments Area (SEPA), and the Payment Services Directive (PSD). MoreFaster Payments
Faster Payments is the first new payments service to be introduced in the UK for more than 20 years. More
Send to a Friend
Latest News
- The UK Cards Association publishes 2012 Annual Report (27 January 12)
- Payments Council appoints two new independent directors (26 January 12)
- New research shows proposed account switching service will be a major improvement (24 January 12)