[robinson-wall]

It happens all the time, and they just don't tell you. We get automated notices when banks connect and disconnect from the Faster Payments network, something happens every few days. Not always this length, but occasionally.

Just yesterday a major high street bank stopped sending payments for an hour, and was telling customers on Twitter that there were no problems.

Hell, the central system (what I called the Hub in this article) had a 12 hour split brain meltdown last July which had banks emailing each other spreadsheets back and forth for two weeks afterwards.

[zhte415]

Emailing each other spreadsheets for two weeks is nothing! Try a year of it combined with angry telephone phone calls between various 'heads'.

Good write-up and very lucid writing to a wide audience. As a new Monzo customer, the customer service I've received has been excellent and far exceeding any service - in retail banking - from a legacy bank that I've had, just to pop that in.

[7ewis]

Who manages the 'hub'?

[hwatson]

Faster Payments is managed by Pay.UK who contract the infrastructure to VocaLink (which is 93% owned by MasterCard).

Pay.UK are currently holding a procurement exercise to find a new operator for Faster Payments http://www.fasterpayments.org.uk/infrastructure-renewal