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INTERNAL TRANSFERS
OPG provides a simple, same-day, cost effective and secure method of transferring funds to payees within the OPG banking system.
The key service features are:
- Movement of cleared funds between OPG customers or between a customers own OPG accounts the same day or on a specified date in the future.
- No external banking transactions involved and no cash financing costs to the Exchequer - these are internal OPG movements only.
- Transfers can be requested electronically (or stopped) using Masterline Payments up to 4pm each day.
- Electronically initiated transfers can either be keyed individually into Masterline Payments or imported from a customer's own accounting system.
- Masterline transfers are considerably cheaper than those requested on paper/by fax.
- Paper transfers can be posted or faxed but must be received at OPG by 3pm for action the same day. Manual transfers are made using form RFT1A which can be obtained by e-mailing opgservices@xafinitypaymaster.com.
- It is possible to make payments to the former Revenue Departments (now part of HMRC), the Consolidated Fund and the National Loans Fund accounts held at OPG via internal transfer - please ask the Account Adviser team for details. OPG customers must not generally make payments direct to these bodies' own Bank of England accounts.
- High volume transfer payments to or from OPG accounts can also be submitted electronically. Please speak to the Account Adviser Team for further details.
If you would like more information please contact the Account Adviser team at:
OPG Banking Services
Sutherland House, Russell Way, Crawley, West Sussex, RH10 1UH
Or telephone our Customer Communications Centre on:
0870 197 1404
or email us at:
opgservices@paymaster.co.uk
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