Forget worrying about sort codes - mobile-to-mobile cash transfers coming soon 10 March 2014 at 3:39PM in Budgeting & Bank Accounts 10 replies 1.8K views

Former_MSE_Michael

"Smartphone users will soon be able to pay for goods and services simply by using the recipient's mobile phone number..."

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Forget worrying about sort codes - mobile-to-mobile cash transfers coming soon



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Hooloovoo

I can already pay my contacts with the Natwest app.

Tony5101

I think that this will be very similar to the Barclays Pingit app/service. I use this all the time to send money to my daughter etc. Quick and simple.
If this new service extends this type of functionality inter-bank, then it gets a big thumbs up from me.

Lifes_Grand_Plan

Sounds like heaven, looking forward to trying it out.

Herbalus

users need to log into mobile banking to use the service

So my banking apps (I have four) won't allow me to log in and set up a new payee, but they will soon allow me to log in and send money to a phone number?

Another interesting point is that those with more than one bank account will presumably only be able to link one account.

zerog

Herbalus wrote: »

So my banking apps (I have four) won't allow me to log in and set up a new payee, but they will soon allow me to log in and send money to a phone number?

Another interesting point is that those with more than one bank account will presumably only be able to link one account.

I don't see the problem with only being able to link one account per bank.

I don't really want to link my bank accounts to phone numbers, but I could just get a free SIM for this. The advantage compared to regular bank transfer is that it appears you will be able to check the number against the name, before you send the money.

What I hope you will be able to do is use the regular internet banking service to send money to a phone number.

I don't use bank apps as I prefer to use the normal online banking interface. I also only view desktop versions of websites on my phone.

matttye

"What if I accidentally type in the wrong mobile number?

When you enter a number to make a payment, the service will check whether the recipient is registered and then display their account name.

So if you've mistyped a number, the wrong name will appear and you'll be able to cancel the request."

- Something that faster payments should've done from the beginning. Oh well.

platterfish

matttye wrote: »

"What if I accidentally type in the wrong mobile number?

When you enter a number to make a payment, the service will check whether the recipient is registered and then display their account name.

So if you've mistyped a number, the wrong name will appear and you'll be able to cancel the request."

- Something that faster payments should've done from the beginning. Oh well.

If I type the wrong number can I find out that person name. Id sooner someone not type my number in by accident, then know my name.. and then potentially call me..
Is it possible they will use a username instead?

matttye

platterfish wrote: »

If I type the wrong number can I find out that person name. Id sooner someone not type my number in by accident, then know my name.. and then potentially call me..
Is it possible they will use a username instead?

I'd imagine so otherwise the opportunity for fraudulent phone calls will be massive.

reclusive46

matttye wrote: »

I'd imagine so otherwise the opportunity for fraudulent phone calls will be massive.

From something I've read, I think depending on the bank it will either just show the initials or the first name. Not the whole name.

matttye

reclusive46 wrote: »

From something I've read, I think depending on the bank it will either just show the initials or the first name. Not the whole name.

If it shows J Smith that would be fine, but just John or JS will be of no use to anybody.