MSE News: Barclays app allows mobile-to-mobile cash transfers

NFH

danothy wrote: »

But the risk, real or imagined, is not the point. The point is that those people who you don't understand for not wanting to give their bank details out to will be the very people not using this system because you have to give your bank details to it to receive payment.

That's ridiculous. You have to give your sort code and account number when you receive money via any method into your account. Even when depositing a cheque, you have to give your sort code and account number to a bank so they know which account to credit the cheque to. I think it comes down to whom they are happy to give the information to; a bank (their own or another) is comfortable for them, whereas another organisation or an individual is not.

danothy

NFH wrote: »

That's ridiculous.

To you, not to people who don't want to give out their sort code and account number.

NFH wrote: »

You have to give your sort code and account number when you receive money via any method into your account. Even when depositing a cheque, you have to give your sort code and account number to a bank so they know which account to credit the cheque to.

When paying in a cheque I identify myself to my bank, who already know my sort code and account number.

NFH wrote: »

I think it comes down to whom they are happy to give the information to;

I agree.

NFH wrote: »

a bank (their own or another) is comfortable for them, whereas another organisation or an individual is not.

I disagree. Your own bank is one thing, another bank maybe not, and an individual probably even less so if you have this phobia you speak of. It's ridiculous to think that someone would suddenly change their behaviour because a new and unproven system turns up that potentially involves someone else's bank.

aleph_0

nzseries1 wrote: »

Woohoo, this brings mugging into the 21st century!

No longer do muggers have to drag you to a cashpoint and hold a gun to your head... now they can insist you transfer the money to them right there on the spot! Awesome!

I guess you were being silly, but it would be mugging with a nice paper trail. They've now given out their phone number, which is linked to their name and bank account (for which it appears Barclays verifies the address). Might be possible to get around, but doesn't seem more of a security risk than anything else.

James

If only!

If only banks could tell you whose account your money had disappeared into under normal banking conditions.

If only Banks knew who the account holder was of these accounts your money disappears into.

If only they'd learn how to walk before they can run.

Just some passing thoughts.

Pincher

Hmm, so if I clone your phone, I can send money from your account?

There was a bio-metric entry system on BBC Click last week.
Apparently bad people were cutting off fingers and eyes to get past security. So, generation two finger print scanners now check for a pulse! Problem solved? Well, early adopters have nine more fingers and a spare eye to go.

I don't have any sensitive information on my phone,
because it can easily be mislaid, stolen, cloned etc.

We should make PayPal free. They do provide a certain amount of thrid party security, so buying and selling transaction fee is acceptable. Potentially, they can revolutionise foreign exchange for small amounts by charging less. If they charge 1p per transaction ten million times a day, still a nice earner.

CalvinEW

...[/QUOTE]
Standby to be dumbed down to third world money ways ...[/QUOTE]

If you condemn every country that gets or tries new financial products before the UK as third world then Australia must be amongst them as we had EFTPOS debit cards in 1990 - long before the UK, dial down the xenophobia and paranoia.

downnotout

I would be just happy with a barclays mobile banking app similar to the RBS one.

NFH

downnotout wrote: »

I would be just happy with a barclays mobile banking app similar to the RBS one.

Pingit is a good idea, but I agree it's disappointing that Barclays are one of the last UK banks to introduce an iPhone online banking app. In answer to a customer question "Why don't you have an iPhone app?" in a newsletter, Barclays said "It’s designed to bring you the convenience of an app with the power and flexibility of a website. You’ll always receive the latest version of the service automatically, without having to hunt out and download upgrades. And on smartphones like the iPhone, you can save Barclays.mobi as an icon on your homescreen". They've completely missed the point about the convenience of an online banking app, as opposed to a web site. To log into the mobile online banking site, you have to enter your surname and 26 characters every time, which is particularly cumbersome on a mobile device. Once configured, an app typically requires only a PIN for basic read-only or low-risk functions.

downnotout

NFH - That my friend is my very point, my other half banks with RBS and whilst the Barclays website is far easier to navigate than the RBS web site, the RBS app is the dogs danglies. Within seconds she can check her balance, recent transactions, savings account and credit card balance. I have to realistically wait until I am home, fire up the PC and then log on to the site, because I can not remember a 12 figure number, and carry that silly pin sentry gadget around with me everywhere.

misterfish

...and when is there going to be a Windows Phone 7 version of this app? We've not all got Apple, Android or Blackberry devices.

Misterfish