How is a Faster Payment displayed on my statement?
When a Faster Payment is processed, the narrative displayed on your account statement is expanded and provides additional information as follows:
For outward payments - The narrative displays:
- beneficiary name
- reference, (where appropriate)
- Faster Payment indicator (FP)
- the date of the transaction
- a two digit code relating to the type of payment
- a unique reference number relating to the payment (known as a Faster Payment ID - or FPID).
For inward payments - the two digit payment type code is replaced by the transaction time (hhmm).
