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In May 2005 the task force announced that an agreement had been reached to reduce clearing times for phone, Internet and standing order payments. [19] This committed the payments services industry to develop a system able to clear automated payments in no more than half a day – the so-called ELLE model – resulting in payment being received the same day if made sufficiently early.
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The taxpayer-backed bank reported pre-tax operating profits of £946 million for the first three months of 2021 against £519 million a year earlier.
Bacs processed a record 5.8 billion transactions in 2014 for a total of £4.4 trillion, including 3.6 billion direct debits. [15] The number of payments passing through the Bacs system topped six billion for the first time the following year, with a value of £4.6 trillion.
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LONDON (Reuters) -Britain's NatWest expects only about 13% of its staff to return to primarily office-based working, the lender said on Tuesday as it revealed a three-pronged approach to post ...
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