Sent money to the wrong bank account? You’ll soon get more help getting it back

grumbler

Consumerist wrote: »

Why can't the recipient's name be added to the transfer details? Is it really so difficult in the 21st century to just add a name to the payment data?

Because generally the name can be printed differently (especially with regard to first names, initials and abbreviations for companies), and it's difficult to formalise what discrepancies are allowed and what aren't.

It is possible if the name notation (or several notations) is (are) fixed for the given account and cannot vary.

Consumerist

grumbler wrote: »

Because generally the name can be printed differently (especially with regard to first names, initials and abbreviations for companies), and it's difficult to formalise what discrepancies are allowed and what aren't. It is possible if the name notation (or several notations) is (are) fixed for the given account and cannot vary.

I take your general point but any system worth its salt should be able to differentiate between Smith and Jones. Surely, something reasonably simple to implement would eliminate a good deal of the problem thereby leaving the spelling errors, etc. to manual intervention.

Edit
If someone has gone to the trouble to give you their bank account details, surely getting the correct spelling of the name on the account would be just another reasonable part of the process.

pmjenkins

!!!!!! wrote: »

I think you need to re-read how PayM actually works. It uses telephone numbers held in your contacts on the phone and not any outside lookup system.

I'm afraid you're wrong. When you send money to someone's mobile number (which may or may not be in your contacts) an outside lookup IS performed and the name the recipient registered would be displayed on your phone. i.e. You may have "Pete" in your contacts but the app would display "Peter Smith" for confirmation.

http://www.paymentscouncil.org.uk/mobile_payments/mobile_payments_explained/how_does_paym_work/

Of course you won't be shown the recpient's account number or sort code.

grumbler

Does this mean that if a person is registered I can find out their name simply by entering their mobile number (or just by entering the numbers randomly)?

tom717

grumbler wrote: »

My point was that if the recipient claims that it was genuine, i.e. the sender allegedly knew whom they were transferring money to, it makes no sense to make it a top secret for the sender who the recipient was.

Either return the money or reveal your basic details. As simple as that.

This. If the recipient disputes returning the money then there should be no delay in identifying them.

Consumerist

tom717 wrote: »

This. If the recipient disputes returning the money then there should be no delay in identifying them.

I'm inclined to agree.

I think the banks just want to defend their position of having to do nothing unless forced by regulation. Then they will bicker on about too much red tape.

innovate

Pincher wrote: »

For the really useless recipient, the sender will have to call her and give her the code, so the recipient can go to her branch to action the code (I am assuming maximum stupidity where the recipient does not know how to pass telephone security).

You may wish to edit your post to remove the sexist allegations that 'useless recipients' are female. I urge you to do so.

BMN

grumbler wrote: »

My point was that if the recipient claims that it was genuine, i.e. the sender allegedly knew whom they were transferring money to, it makes no sense to make it a top secret for the sender who the recipient was.

Either return the money or reveal your basic details. As simple as that.

tom717 wrote: »

This. If the recipient disputes returning the money then there should be no delay in identifying them.

Consumerist wrote: »

I'm inclined to agree.

I think the banks just want to defend their position of having to do nothing unless forced by regulation. Then they will bicker on about too much red tape.

It isn't as simple as that because the Data Protection Act does prevent them from doing so.

It may not make sense to you but if you're happy to have a company send out your personal details on somebody elses request well then that's your opinion.

Consumerist

BMN wrote: »

It isn't as simple as that because the Data Protection Act does prevent them from doing so.

It may not make sense to you but if you're happy to have a company send out your personal details on somebody elses request well then that's your opinion.

The banks give out intimate details of my bank accounts to third parties without the need for any request e.g. CRAs. I'm not happy for it to happen but the Data Protection Act doesn't stand in their way when it suits them - only when it might suit us.

BMN

Consumerist wrote: »

The banks give out intimate details of my bank accounts to third parties without the need for any request e.g. CRAs. I'm not happy for it to happen but the Data Protection Act doesn't stand in their way when it suits them - only when it might suit us.

Lol not without your permission they don't. You have agreed for them to do that in the terms and conditions.