A voluntary agreement between The Building Societies Association (BSA), The Investing and Saving Alliance (TISA) and UK Finance, sets a target of a minimum of 85 per cent of cash ISA transfers to be completed within seven working days for 2024.

The new arrangements are a significant step in the further development of Variable Recurring Payments

After a period of continued geopolitical uncertainty, economic insecurity, the challenges of intense technological change and disruption, in addition to ongoing regulatory developments, the commercial finance industry stands at a critical juncture – from an economic, political and regulatory perspective.