The blog for anyone that works from home

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About the Author

Who is Nexus Publishing? Originally from a small town called Darlaston – about ten miles north of Birmingham – I moved to West Sussex about ten years ago to help develop one of the first online retailers. Having recently moved to Shropshire I am now enjoying the working from home life in a semi rural location. I have been a freelance writer and journalist for about fifteen years. Eight of them were spent doing various other jobs such as bookshop assistant, print finisher and returns clerk for a large library supplier, with the writing taking up evenings and any of my spare time. As you can see, much of my life so far has been spent working with books and publishing of one kind or another. My time as an employee came to a conclusion some six years ago with redundancy, so I took the opportunity – and the money – to see if I could survive as a full-time freelance writer. That was five years ago. There have been some lean times – just ask my wife, Joanne. But after tasting the freelance life, there’s no going back.

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Get Paid Faster!

Friday, June 6th, 2008 • Related • Filed Under

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It’s one of the issues that all homeworkers have to contend with. Getting your invoices paid so you can pay next month’s mortgage is a problem that looks set to dog all home-based enterprises for the foreseeable, but there may be light at the end of the payment tunnel.

A new fast payment system is now live and could mean your business bank account can now receive faster payments. By the end of the year the majority of the UK’s Internet, phone and standing order payments are expected to be made using the new system.

Barclays, Citi, Clydesdale and Yorkshire Banks (National Australia Group), HSBC, Lloyds TSB, Northern Bank (Danske Bank) and Royal Bank of Scotland Group are  sending and receiving phone and internet payments, and Alliance & Leicester, HBOS, Nationwide Building Society and Northern Rock are receiving these payments. As part of the phased rollout, some financial institutions are placing lower initial limits on the value of payments that can be sent or alternatively they may be choosing to phase rollout across their customer accounts.

The Faster Payments Service enables banks to process one-off payments made over the internet or by phone within hours, not days, benefiting customers by speeding up the clearing of their payments. Customers are able to make Internet and phone payments outside of banking hours even at the weekend. The service will also speed up standing order payments, enabling them to be cleared on the day they are sent on bank working days. Standing orders will start to be processed through the Faster Payments Service from 6th June.

You do not need to make any change to any payments. Any payment that is not processed through the new service will continue to be made using the existing Bacs three-day service. They will be informed directly by their banks when they are able to use the service.

You can check if your account is faster payment enabled with the easy-to-use checker on the APACS website.

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