pmsumner

http://www.apacs.org.uk/08_02_27.html

APACS, the UK payments association, has today (27 February 2008) confirmed that the banking industry is on track to deliver the infrastructure that will enable a new faster payments service to be launched starting on 27th May this year. The development of this new system is a massive and complex project involving significant investment both within banks and the central infrastructure.

So, as long as everything happens on time, most customers will be able to do nearly instant inter-bank money transfers. YAY!

The banks in the initial push are: Abbey, Alliance & Leicester, Barclays, Citibank, Co-operative Bank, HBOS, HSBC, Lloyds TSB, National Australia Group, Nationwide Building Society, Northern Bank (Danske Bank), Northern Rock, Royal Bank of Scotland Group