Faster Payments Service

Looking for BACS? We have chosen not to become a BACS bureau, instead, we offer a Faster Payment service. 

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You are probably familiar with BACs payments, however they are out dated, costly and time consuming. 

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In contrast, a Faster Payment service offers you flexibility to 365 days a year payments, without the specified time frame that comes with BACs. You can make a Faster Payment to an employee, with it hitting their bank account almost immediately. No need for strict deadlines when processing employee payments. 

 

We will provide support in setting up a Modulr company account linked to our payroll software. The API payments platform that scales as your business grows.

 

Modulr is a direct participant of the Faster Payments service, enabling us to process your payments securely and efficiently. It provides the same level of access to Faster Payments as any other bank, but is underpinned by next generation technology. 

 

Modulr is authorised and regulated by the Financial Conduct Authority as an Electronic Money Institution for the issuance of electronic money and payment services (Firm Reference Number: 900573). 

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Your account and related payment services are provided by Modulr FS Limited. Whilst Electronic Money products are not covered by the Financial Services Compensation Scheme (FSCS) your funds will be held in one or more segregated accounts and safeguarded in line with the Electronic Money Regulations 2011.