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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).

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