Central Banking

VocaLink: Seven-day account switching set to shake up UK banks


Developments such as the growth of real-time payments and forthcoming seven-day account switching have the potential to change the way people use banks and shake up competition, according to Chris Dunne, payment services director at VocaLink.

VocaLink operates UK payments infrastructure including the majority of the ATM network and ‘Faster Payments', a growing real-time payments system that is expected to process around 950 million transactions this year, though still dwarfed by the 5.6 billion

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

If you already have an account, please sign in here.

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account