We take our financial responsibilities very seriously.
As a Bacs-approved bureau, FastPay operates under its strict regulations which focus on confidentiality, integrity, compliance and availability.
We abide at all times to industry regulations and policies, operating within the guidelines of the Data Protection Act.
Direct Debit is the most efficient way to collect money from your customers and is protected by the Direct Debit Guarantee – one of the most stringent set of rules in the banking world.
One of these requirements is that all money we receive via our Managed Service must be held in a client trust account. These are regularly audited and FastPay boosts security by holding each client’s money in a separate ‘virtual’ account to prevent cross-contamination.
To further protect both you and your customers, we have a failsafe guarantee with our Sponsoring Bank by means of a legally binding indemnity. This acts as an additional safeguard for funds received under the Direct Debit Guarantee.
We use bespoke Direct Debit scheduling and communications software, which, as the most up-to-date available, means we (and you) always comply with the latest legislation. We also have disaster and contingency arrangements in place to meet Bacs standards.
To insure against fire or theft and protect against the threat of cyber-attacks, we operate a dual server policy, both onsite and offsite. Data is immediately accessible and retrievable, providing complete peace of mind and minimising downtime delays.
And our 128-bit encrypted servers are protected by multilayer passwords – only our company directors are authorised administrators. These servers ensure all online communication involving customer information and payment details is secure.