What is a non-value message in the context of Faster Payments?

In the context of Faster Payments, a non-value message refers to a type of communication that does not result in a financial transaction or accounting entry. This means that while it serves an essential purpose in facilitating payment processes, it does not involve the transfer of funds.

For example, a non-value message may be used to convey information about the status of a transaction, confirm receipt of a payment instruction, or provide general information related to the payment system. The key characteristic of non-value messages is that they are not tied to the movement of money itself; rather, they support the infrastructure, operational processes, or communication about transactions without affecting the financial balance.

This understanding highlights the function these messages play within the broader payment ecosystem, ensuring that all parties involved are informed and able to conduct transactions effectively, even if no immediate monetary exchange occurs.