Important Update How To Send Gbp Payments To Us Safely And Without Delays

Effective from 13 April 2026

From 13 April 2026,the way you send GBP Faster Payments (FPS) to us is changing.

To give you better protection and faster funding, our banking partner (Visa / Currencycloud) is moving GBP Faster Payments into accounts in your own name (“named accounts”) instead of a pooled client account.

This blog explains:

Why you now see two sets of GBP account details
Which payment type (rail) should go to which account
Exactly what to say to your bank – in branch or on the phone – so they send it correctly

1. Why do I have two GBP accounts now?

You will now see / receive:

A GBP named account– in your name
A Barclays pooled account– in the name “The Currency Cloud GBP – Client Seg”

Why this is good for you

Your GBP named account gives you:

Better protection – Money moves from your bank to an account in your own name, not into a shared pooled account.
Faster FPS payments – Faster Payments will usually land in seconds , rather than up to four hours via the pooled account.
Simpler funding – For FPS, you don’t need to worry about payment references , so your money can be applied and sent overseas faster than before

2. The Simple Rule: one payment type per account

From 13 April 2026, there is a very clear rule:

Faster Payments (FPS) → your GBP named account only

Any payment sent by Faster Payments must go to your GBP named account details.
FPS must not be sent to the Barclays pooled account. If they are, the money will be automatically returned and not credited.

CHAPS / BACS / SWIFT → Barclays pooled account only (with your reference)

Any payment sent by CHAPS, BACS or SWIFT must go to the Barclays pooled account using your usual unique reference.
These payment types must not be sent to your GBP named account.

In short:

FPS → GBP named account
CHAPS / BACS / SWIFT → Barclays pooled account (with your reference)

3. What do these payment types actually mean?

Here’s a very simple guide you can use - and show to your bank if needed:

Payment Type	Note:
Faster Payments (FPS)	Usually instant or same-day Used for most online or mobile-banking payments from UK banks Often the default for personal and small-business accounts
CHAPS	Same-day, typically high-value Commonly set up in branch or via business banking
BACS	Takes about three working days Often used for salary payments and standing orders / regular payments
SWIFT	Used for international bank transfers (cross-border payments) If you make a standard online payment on your banking app, it is almost certainly Faster Payments, so you should use your GBP named account

4. Script to use with your bank – in branch

If you go into a branch, staff may not automatically explain which method they’re using. You can read this out or show it to them:

“I need to send a payment to my UK provider and it’s important which payment method you use. Before you send it, please can you tell me whether this payment will go by Faster Payments, CHAPS or BACS?”

If it will be sent by Faster Payments (FPS):
I must use my GBP named account details in my own name. Please use these details only for an FPS payment.
If it will be sent by CHAPS or BACS:
I must use my Barclays pooled account details with my usual reference. Please use these pooled-account details for CHAPS or BACS.
Could you please confirm on the receipt which method was used (Faster Payments, CHAPS or BACS)?”

This ensures:

An FPS doesn’t accidentally go to the pooled account (and get returned).
CHAPS/BACS don’t go to the named account, which could cause delays.

5. Script to use with your bank – phone or online support

If you speak to your bank by phone or web chat, you can use this wording:

“I’m sending money to my provider and they have given me two different GBP accounts.

If the payment is sent by Faster Payments (FPS), I must use my GBP named account in my own name.
If the payment is sent by CHAPS or BACS, I must use the Barclays pooled account with my usual reference.

Please can you confirm which method your system will use for this payment, and help me make sure I give you the correct account details for that method?”

Then:

If they say FPS → give them your GBP named account details.
If they say CHAPS or BACS → give them the Barclays pooled account details and your reference.

6. How to check this change isn’t a scam

We know that banks constantly warn you about emails asking you to change bank details, and they are right to do so. This change can look similar, so it’s normal to feel cautious. To stay safe:

Call us to verify:
You can always call us on our only UK office number: [insert number] to confirm any email or account details before you send money.
Use Confirmation of Payee (CoP):
When you add your GBP named account as a new payee, your bank may show you the name on the account.
This should match your own name. If it doesn’t look right, stop and contact us.
Be suspicious of any further “changes”:
If you receive any other message telling you to change the details again or send money somewhere else, treat it as suspicious and speak to us first.

7. What you should do now

To make sure there are no interruptions:

Get your GBP named account details:
- If you haven’t already, contact us and we’ll provide them (or find them in your platform if you’re a platform user).
Update saved payees and standing orders:
- For any payments that your bank sends by FPS (most online/mobile payments), update the payee to use your GBP named account.
- Leave CHAPS/BACS/SWIFT payments pointing to the Barclays pooled account with your reference, unless we advise you otherwise.
If you find it hard to change things:
- If you rely on branch-only banking, live overseas, or have long-standing standing orders that are difficult to change, please contact us so we can discuss options and, where needed, raise your case with our banking provider under Consumer Duty (for vulnerable or constrained customers).

8. If you have a standing order (STO) set up

Many of our clients have been sending us regular payments by standing order for years, often to the Barclays pooled account. In the past, most standing orders were sent over BACS, but many UK banks now process standing orders over the Faster Payments (FPS) rail. That means:

Your standing order might already be using FPS, even if you originally set it up years ago as a “3-day” BACS-type payment.
From 13 April 2026, if your bank is sending that standing order by FPS to the Barclays pooled account, the funds will be returned and will no longer credit your balance.
Because we can’t see which rail your bank is using for a standing order, we strongly recommend:
- Contact your bank and ask:
  “This standing order to [Barclays details] – is it sent by Faster Payments, BACS, or something else?”
- If they say Faster Payments (FPS):
  You’ll need to change the standing order to use your GBP named account instead of the pooled account.
- If they say BACS:
  You can continue to use the Barclays pooled account with your reference, but we still suggest confirming this from time to time in case the bank changes how it processes standing orders in future.
- If changing a standing order will cause any difficulty or negative impact for you (for example, you are overseas, branch-only, or find it hard to get to your bank):
  - Please contact us as soon as possible.
  - Tell us that you have a long-standing standing order and explain your situation.
  - We will work with you to find a solution that avoids disruption, and where necessary we will escalate your case with our banking provider under Consumer Duty for vulnerable or constrained customers.