What Do FPI and FPO Mean on a Bank Statement?
FPI is a Faster Payment coming in and FPO is a Faster Payment going out. They're ordinary UK bank transfers sent through the Faster Payments system, which runs around the clock and usually moves money within seconds.
At a glance
- FPI
- Faster Payment In (money received)
- FPO
- Faster Payment Out (money sent)
- Speed
- Usually seconds, 24/7
- System
- UK Faster Payments
What they look like
An FPI is money someone has sent you — wages from a small employer, a refund, or a transfer from a friend. An FPO is money leaving your account, whether you sent it in your banking app or set it up as a standing order.
The name shown alongside is normally the other party, plus any reference used.
How fast they really are
Faster Payments are usually instant and available within two hours at the very most, including weekends and bank holidays. That's the key difference from BACS, which only runs on working days and takes three of them — see how long bank transfers take for the full picture.
A first payment to a new payee is sometimes held briefly for security checks.
What if you don't recognise it?
Don't panic, but don't ignore it either. Work through this order:
- Check who else uses the card — a partner, or a child on a family account, is the most common explanation.
- Look for a matching subscription or order in the relevant app or account.
- Search the exact descriptor as it appears, including any * or reference number.
- Still unexplained? Contact your bank straight away. Report it as an unrecognised transaction — under UK rules you're generally protected against unauthorised payments, and your bank can freeze the card and investigate.
Never phone a number that appears in the transaction itself, and never share a one-time passcode with anyone who calls you — including someone claiming to be your bank.
Frequently asked questions
Is FPI money coming in or going out?
Coming in. FPI is Faster Payment In — money credited to your account. FPO (Faster Payment Out) is money leaving it.
How long does a Faster Payment take?
Usually seconds, and within two hours at the outside. Unlike BACS, Faster Payments run at weekends and on bank holidays too.
Still stuck? Start with our guide to what that charge on your bank statement is.
More statement entries explained: TFL TRAVEL CH · APPLE.COM/BILL · GOOGLE *TEMPORARY HOLD · AMZNMktplace / AMZ* · PAYPAL / PP* · Klarna · SQ * (Square) · CHG · CR / DR
General information only. If you don't recognise a payment, contact your bank — they can investigate and, where a payment was unauthorised, refund it.
