What local transfers for GBP does ZEN support? What is Faster Payment Service (FPS)?
ZEN supports local GBP transfers via the Faster Payment Service (FPS). FPS transfers are only available to ZEN clients verified with a UK-issued document. Other Local GBP transfer methods (like BACS or CHAPS) are not supported.
Faster Payment Service (FPS) is a banking and financial service in the United Kingdom that enables electronic money transfers between different banks and financial institutions. It was introduced to facilitate quicker and more efficient payment processing for individuals and businesses.
FPS allows for fast, often near-instant money transfers. It is designed to provide same-day or immediate processing for most transactions, making it a convenient option for sending money when time is of the essence.