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PAYABLE ORDERS
A Payable Order is a cheque drawn on the Office of HM Paymaster General (OPG). Payable Orders provide customers with secure paper payable instruments, which clear to the same timescale as commercial cheques, but with additional value added features:
The key service features are:
- Electronic matching of all items presented for payment against a separate authorisation schedule sent to OPG by the customer when issuing the payable order. This helps OPG detect and prevent fraud.
- Details of individual payments, whether paid, unpaid, stopped or out of date are tracked and reported back to each customer.
- A computerised, secure and permanent record of payments issued is maintained through information supplied on the schedules.
- Payable Orders are available in a range of formats to suit individual business needs with/without an integral Remittance Advice.
- Facility to stop payable orders after issue but before they have been presented for payment available via Masterline or by telephone.
Form GS2 may also be used to stop payable orders, e-mail opgservices@xafinitypaymaster.com for the form.
- The ability to send all schedule data to OPG electronically. Masterline Bulk Schedules can be used to send high volume schedule data to OPG with Masterline Payments for lower volumes.
- Schedule data may also be submitted on paper (hard-copy) if required, but these are more costly than items submitted electronically, and OPG will ultimately look to phase out paper.
- A full reconciliation service is provided as standard with separate reconciliation statements for current and prior financial year payments.
- Facilities to enquire whether an individual payable order is paid or unpaid are available via Masterline or by telephone.
Form GS3 may also be used, e-mail opgservices@xafinitypaymaster.com for the form.
- A tariff structure that allows customers to reduce costs by using electronic schedules and reducing the need for exception and repair facilities.
"Payable orders are generally more secure than cheques" [NAO-1995]
'The Banking Service provided by the Office of HM Paymaster General'
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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