What does BLIP stand for?

Horlock

Sorry if this is the wrong place to ask. But I've recently used the halifax account transferring thing. Ie closed opened a new current account with them and they have closed the old account.

However, I received a worrying letter from them to say that they had set up the direct debits ... (which all sounded good) and also set up the standing order (BLIP) to two different people.

The one of which was my wife (which kind of makes sense) but the other one scared me (because it was to someone who I've only ever made a one off payment to)!

So I'm trying to find out what BLIP means urgently (obviously if it only means that I once made an instruction to pay them - fine; but if it means that there was or there now is a standing order to pay this person randomly from my new (and or my old) bank account - this is a major problem!)

Thanks very much for any help.

Online I've found people asking the same question but no answers!

Obviously I only want acronyms etc related to standing orders - not legal terminology etc

Thanks in anticipation.

Drp8713

I think its just a list of payees that you had on your old internet banking.


You can just keep paying them with your new bank without having to set up a new payee and go through a new payee authorisation


I had my payees transfer over when I switched to First Direct & Halifax


I don't know what BLIP stands for though

mikb

Horlock wrote: »

... and also set up the standing order (BLIP) to two different people.

... but if it means that there was or there now is a standing order to pay this person randomly from my new (and or my old) bank account - this is a major problem!)

Don't panic.

1) Call Halifax, ask them what it means, they should be able to tell you 100% accurately.

2) It's a standing order. A standing order is a PUSH transaction, you need to initiate it. They can't randomly pull money from your account -- that's direct debit. So unless you've set it up to pay an amount every x weeks/months/years, nothing will happen.

3) If you're sure it was only a one off payment -- why set up a standing order in the first place? They are usually for repeated payments.

And furthermore, if you know you don't need it, just cancel it by contacting the bank. Job done.

mikb

Drp8713 wrote: »

I think its just a list of payees that you had on your old internet banking.

Crossed postings with you

That's a good suggestion.

However, if you're right, it's confusing terminology by the bank -- as that is not a standing order.

I've got "known payees" in my current account, but no standing order attached to them.

Also, I have a standing order running that does not show up in my list of "known payees". So they are two separate things.

colsten

Have you checked what DDs, SOs an payees show in your Halifax account? Any you don't like you can just delete. You had them all on your old account.

No need to panic, worry, or to ring the bank.

I also don't know what BLIP stands for but it doesn't really matter.

Horlock

I've checked online banking with halifax and no SO's are listed under SO's. So it does sound like it may just be confusing terminology.

2010

Log in to your Halifax account and cancel any DD or SO that you don`t know about or haven`t aurthorised.