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    New Possibly Free APACS Banking Instant (2h) Transfer System

    2hour transfer of funds incoming and outgoing

    £10k limit on singular transactions, £100k limit on Standing Orders

    Not all Banks can send and receive yet, check the links for more information...

    To quote that MSE Thread;

    Which banks are involved?

    Thirteen banks are involved in getting the new system off the ground, but they're not all equal. Some banks ONLY allow you to receive them for now. So, what you can do depends purely on which bank you are with.

    * Send & Receive Banks: Barclays, Citi, Clydesdale Bank, HSBC, Lloyds TSB, Northern Bank, Natwest RBS and Yorkshire Bank
    * Just Receive. Alliance & Leicester, Halifax Bank of Scotland, Nationwide, Northern Rock

    Abbey and Co-operative Bank are also part of the cabal that have set up this scheme, but customers of these two cannot yet either send or receive payments

    12 Comments

    to check whether the recipient of your payment will recieve it under this new system you can enter their sortcode here ]http//ww…er/

    I can't wait for this to become fully working and for payments over £20 with HSBC. It so annoying and unnecessary to wait for days on end.

    As soon as this gets more widespread I won't be using PayPal anymore thats for sure.

    Same here! Down with paypal!

    Original Poster

    It'll be interesting to see how Ebay/Paypal react once this becomes more common/widespread.

    Weren't eBay enforcing Paypal as the only payment option soon?

    schizoboy;2191064

    It'll be interesting to see how Ebay/Paypal react once this becomes more … It'll be interesting to see how Ebay/Paypal react once this becomes more common/widespread.Weren't eBay enforcing Paypal as the only payment option soon?



    Ebay are definitely forcing sellers to offer Paypal as A payment option, I don't think they can enforce it as the ONLY option (although knowing them they'll try)

    I think they're relying on the £500 payment protection to keep people using PayPal, especially buyers.

    Banned

    When does this start?

    Original Poster

    sam2007;2192695

    When does this start?



    Yesterday but banks are placing temporary limits, £20 or similar to ensure it works ok etc. I can't see it becoming mainstream for a couple of months.

    That MSE thread seems to implies banks will compete against each other on this service.

    Tatey;2190988

    Same here! Down with paypal!



    Amen !
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