Cheques To Be Paid In Via Smartphone

robatwork

NFH wrote: »

but the default is a cheque in the post. Rather than moving away from cheques like the rest of the developed world, the US prefers to develop new technology to process cheques.

A fascinating read is Catch Me If You Can by Frank Abagnale Jr - probably the most prolific passer of valueless pieces of paper in history. Much better than the (not bad) film. He seems assured at the end of his "career" he knew more about cheques than anyone in the entire US banking system.

NFH

robatwork wrote: »

A fascinating read is Catch Me If You Can by Frank Abagnale Jr - probably the most prolific passer of valueless pieces of paper in history. Much better than the (not bad) film.

The true story took place in the 1960s. The thing is that the US banking system hasn't moved on much since then.

Hominu

NFH wrote: »

The payee will simply publish their sort code and account number and an appropriate reference to quote such as "SAR" followed by a unique reference. There are plenty of ways such a payment could be achieved without resorting to archaic pieces of paper.

Likewise, I would say that requiring a sort code, account number and reference number just to send a simple payment is also archaic. A much more user friendly and modern approach would be to simply login to your online banking and say something like "Please pay £10 to sar@cifas.org.uk". Heck, you could even include the actual request with the payment as you shouldn't need to waste paper for such simple requests. The request could also be streamlined as well then, or even mostly automated.

Barclays are pushing ahead with making payments simpler by advertising their "Pingit" smartphone app, but again, they require a mobile phone number to send the payment to and in this day and age we should be using names, not numbers. I access this site by typing "moneysavingsexpert.com" into my web browser. I don't have to remember and type 162.13.48.82.

robatwork

Hominu wrote: »

I access this site by typing "moneysavingsexpert.com" into my web browser. I don't have to remember and type 162.13.48.82.

I think your extra s has slightly changed the meaning of this site! Unless you meant to navigate your way around the seedier parts of Amsterdam....

SuperAllyB

Amsterdam on a budget? That brings back many happy mamories!

gt94sss2

Hominu wrote: »

Likewise, I would say that requiring a sort code, account number and reference number just to send a simple payment is also archaic.

From Spring 2014, most banks will allow you to transfer money using a mobile phone number (i.e. your mobile phone address book) so one doesn't need to disclose your bank account details to others

Regards
Sunil

Gromitt

gt94sss2 wrote: »

From Spring 2014, most banks will allow you to transfer money using a mobile phone number

As stated already, Barclays already offer the service, and you don't even need to be a Barclays customer (you just need the app).

So I guess the "Spring 2014" date simply means you'll be able to do it from your own banks online banking and mobile app?

JuicyJesus

Gromitt wrote: »

As stated already, Barclays already offer the service, and you don't even need to be a Barclays customer (you just need the app).

Or even, I noticed the other day, to use a Barclays ATM, which surprised me a bit.

Gromitt

JuicyJesus wrote: »

Or even, I noticed the other day, to use a Barclays ATM, which surprised me a bit.

You can pay a phone number from a Barclays ATM?

JuicyJesus

Gromitt wrote: »

You can pay a phone number from a Barclays ATM?

Last time I used one there was an option to use Pingit. Didn't choose it, since I wasn't using it.