Baked Beans, Spaghetti Hoops & Macaroni Cheese
A Light Hearted Tinned Food Tour of UK Payment Systems
📌 Episode Summary:
In this fun and food-themed episode of Payments:Unpacked, host Mike Chambers serves up a light-hearted comparison of the UK’s most common payment schemes — Faster Payments, Bacs, and the cheque clearing system — using a trio of classic tinned foods.
From the future-ready baked beans of Faster Payments to the reliable-but-slow Spaghetti Hoops of Bacs, and the dusty shelf-sitter Macaroni Cheese that is the cheque, we explore how Britain’s financial infrastructure works — and which tins you want in your cupboard.
Whether you're a finance nerd or just here for the beans, this episode will leave you with a smile and a better understanding of how money moves in the UK.
⏱️ Episode Timestamps:
00:00 – Intro
Why we're comparing financial infrastructure to tinned food (and why it totally works).
01:14 – Faster Payments = Baked Beans
Speedy, reliable, and always ready when you are.
02:41 – Bacs = Spaghetti Hoops
Slightly dated, slightly slow, but still gets the job done.
03:40 – Cheques = Tinned Macaroni Cheese
Technically still edible, but best left untouched unless desperate.
04:39 – Which Tin (Payment System) Is Right for You?
A quick guide on when to use each option.
05:37 – Final Thoughts + Outro
Beans are the future. Cheques, not so much.
🧠 Key Takeaways:
Faster Payments is fast, available 24/7, and ideal for real-time transfers.
Bacs is reliable for scheduled payments like salaries and direct debits, but takes 3 days.
Cheque clearing is outdated, slow, and fading from everyday use.
Each system has its place — but only one feels like it belongs in the 21st century
🛒 Final Thoughts: What’s In Your Financial Cupboard?
The next time you reach for a tin — or make a bank transfer — ask yourself:
Am I moving money like it’s 2025… or 1975?
Because the baked beans of banking are hot, fast, and ready. Just like your money should be.
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