What are scheduled payments and standing orders?

A ‘scheduled payment’ is a recurring or one-off payment from your account where you specify how much and when to send the money.

• Faster Payments These are generally processed immediately and the money will arrive in your account within minutes. Some banks can take up to two hours to process Faster Payments so they might take longer to arrive.

• Bacs If you’re expecting a Bacs transfer, it will take up to three days for the money to arrive in your account.

• CHAPS CHAPS stands for Clearing House Automated Payment System. These payments are usually for high-value transactions like buying a property or car. When we receive a CHAPS payment before 3pm, it will arrive in your account on the same working day between 4:10pm and 7:10pm.

This is different from a transfer when you send money straight away.

‘Standing orders’ are recurring scheduled payments, for the same amount, with a frequency you choose.Support to send us a message.

You can set up scheduled payments in your Tide app and Tide on web.