> ## Documentation Index
> Fetch the complete documentation index at: https://docs.augustus.com/llms.txt
> Use this file to discover all available pages before exploring further.

> ## Agent Instructions
> Treat the published Augustus OpenAPI specification (https://app.stainless.com/api/spec/documented/augustus/openapi.documented.yml) and the current API-reference pages as the source of truth for endpoints, request/response schemas, enum values, webhook event names, and required headers.
> Prefer the 2026-05-01 Banking API and @augustusbank/typescript-sdk for all new integrations. The 2023-01-01 API is a separate, older surface covering two products — Open Banking (instant bank transfer) checkout and refunds, and Manual Bank Transfer (MBT); use it only when one of those products is specifically required.
> Cite or link the relevant docs.augustus.com page when answering integration questions.
> Do not infer support for currencies, networks, scopes, account types, or operations that are not present in the current documentation.
> Use the sandbox base URL (https://api.sandbox.augustus.com) and placeholder credentials in examples. Never include or request a real API key.
> The Augustus docs MCP server (https://docs.augustus.com/mcp) provides documentation search and retrieval only; it does not execute authenticated Augustus API actions.

# Faster Payments

> Send and receive GBP over the UK Faster Payments Service.

Faster Payments is the UK scheme for domestic GBP payments: near-instant settlement, around the clock, every day of the year.

## What Augustus supports

|                | Today                                                                           |
| -------------- | ------------------------------------------------------------------------------- |
| **Direction**  | Send and receive GBP push payments to/from any UK sort code and account number. |
| **Speed**      | Near-instant, 24/7, year-round. There are no cut-off times.                     |
| **Limits**     | The Faster Payments scheme caps a single payment at £1,000,000 (set by Pay.UK). |
| **Scheduling** | Payouts execute immediately; future-dated payments are not supported.           |

## Sending GBP

Create a payout with `currency: "GBP"` and a `sort_code` counterparty financial address:

```ts 2026-05-01 theme={null}
import Augustus from '@augustusbank/typescript-sdk'

const client = new Augustus()
const payout = await client.payouts.create({
  account_id: 'your-gbp-account-id',
  amount: '100.00',
  currency: 'GBP',
  unstructured_remittance_information: 'Invoice 1234',
  counterparty: {
    financial_address: {
      type: 'sort_code',
      sort_code: '040004',
      account_number: '12345678',
      account_holder_name: 'Chris Simon',
    },
  },
})
```

[**POST** `/v1/payouts` in the API Reference →](/api-reference/payouts/create-payout)

| Field                                 | Behavior                                                                                                                              |
| ------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------- |
| `rail`                                | Optional for GBP; `"faster_payments"` is the only GBP rail supported.                                                                 |
| `unstructured_remittance_information` | Forwarded to the receiver with the payment. The payment reference shown on the receiver's bank statement carries up to 18 characters. |

## Status and lifecycle

GBP payouts move through the standard [payout statuses](/docs/payments/payouts): `initiated` on creation, `submitted` when handed to the rail, `sent` when the payment settles, `failed` when it is rejected. Faster Payments typically reach `sent` within seconds.

## Receiving GBP

Senders address your account with its sort code and account number, available on the account's `financial_addresses`.

* Incoming credits appear as [deposits](/docs/payments/deposits) with `rail: "faster_payments"`.
* `deposit.settled` fires when the funds arrive.
* The sender's bank details are referenced through the deposit's `counterparty_id`.

To send a received credit back, create a return with the deposit ID; see [Returns](/docs/payments/deposits#returns).

Under the UK's authorised push payment fraud rules, the sender's bank can file a reimbursement claim against a received payment after settlement. Augustus investigates the claim with you before it is decided.

## On the 2023-01-01 API

Faster Payments also carries the legacy products: [Open Banking](/docs/legacy/open-banking) payments from UK banks, [Manual Bank Transfer](/docs/legacy/manual-bank-transfer) deposits, and [refunds](/docs/legacy/refunds) to UK accounts.