YOU MUST MAKE CHANGES TO YOUR BROWSER

Microsoft withdrew its support for IE11 on 15 June 2022 and the IE11 desktop application is now out of support. You should make changes to avoid interruption in accessing Bacs and Pay.UK websites. We recommend installing the latest version of Microsoft Edge or Google Chrome. Visit IE11 withdrawal - impact on Bacs for information on how this may affect your access to the Payment Services Website.

Faster Payment System statistics

Last month:
  • In August, Faster Payments processed 346.7 million payments, which is a 17% increase on the amount processed in August 2021.
  • These payments amounted to a total of £284 billion for the month. This is a 31% increase on August 2021's total.
Last Quarter:
  • Q2 of 2022 saw 974 million payments processed by Faster Payments, a 14% increase on the amount processed in Q2 for 2021.
  • The total amount of payments processed during this quarter was £795 billion, which is a 24% increase on 2021 Q2 's total.
Last year
  • 2021 saw Faster Payments break the record for the highest amount of payments processed in a single year.
  • 2020 saw 2.9 billion payments processed, whereas in 2021 the figure grew to over 3.4 billion.
  • In total, there were 568 million more payments processed than in 2020. This is an increase of 20%.
  • Faster Payments broke the record in 2021 for the number of payments processed in a single year.
  • £2.1 trillion was transferred via Faster Payments in 2020. In 2021 however, over £2.6 trillion was transferred.
  • In total, the amount processed in 2021 rose by £496.7 billion compared to 2020. This is an increase of 24%.

 

Faster Payment System - Values for the previous 12 months

 

 

 

Faster Payment System - Volumes for the previous 12 months