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1491. FCA secures commitment from high street banks to use a ‘retry system’ when processing payments to stop unnecessary penalty charges

      Press Releases Published: 07/06/2013 Last modified: 16/08/2013
      The Financial Conduct Authority (FCA) has reached an agreement with seven of the UK’s biggest high street banks that will see them use a same day ‘retry system’ when processing Direct Debits, standing orders and future dated bill payments.