Press Releases

January 2009

Danbro Make History with Unique Payment Service

When is payday not payday? When the money has been paid into your account but it takes five days to clear…

Processing salaries in time for seasonal holidays is something payroll clerks face every December in this country, yet the delay has little to do with the making of a payment, and everything to do with its processing. 
Recognising this, specialist accountants Danbro set about devising a payments service that would enable electronic payments to be processed within hours for their Umbrella Company clients, not days.

The Faster Payments Service is the first new payments service to be introduced in the UK for more than 20 years. The long-anticipated payment method, which enables people to make payments by phone, Internet or standing order – virtually at the touch of a button – makes same-day bank transfers possible and is a welcome solution to a glitch that has long frustrated the accounts departments in many businesses. The long-anticipated payment method will run alongside existing payment schemes in the UK such as BACS and CHAPS.

Commenting on the Faster Payments Service, Danbro managing partner Damian Broughton said: “I’m thrilled that we are able to offer what I believe is a cost-effective and efficient service to our clients, especially in this current economic climate.”

Cash is king

“Our clients will be pleased to learn that 13 banks and building societies have signed up to the service to date. In the future, other financial institutions will be able to join, either as members, or to access the system through agency arrangements with a member.”

For a small fee, clients working through the Danbro Umbrella Service will be able to receive their earnings into their bank accounts the same day that Danbro receive the money into their bank accounts.

To find out if your bank is eligible for Faster Payments please click here.

If your bank is eligible and you would like to be paid via our Faster Payments system, please visit our website for further information or contact Danbro at their offices in:
Head Office: 01253 600140
London: 020 7836 84000
Manchester: 0161 228 7841

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For further details, please contact Danbro: 01253 600141, General Enquiries: 01253 600140, London Office: 020 7836 8400 or email enquiries@danbro.co.uk or send an enquiry.