HVCS payments are fast and, once made, cannot be reversed. This means it is an efficient and reliable way to make large payments quickly. HVCS payments are commonly used for large value payments between corporate institutions and property settlements.
The HVCS rules,
standards and procedures set out how these types of transactions are made,
including what payment information is required and the timeframes for
completing the transaction.
Participants use a dedicated SWIFT-based
system between banks to settle these payments and interchange payment
information between them.