Why does no-one know about PayM?

Ballard

[Deleted User] said:

If I'm not mistaken the option has been removed from the HSBC app. Or moved within it.

I don't really use my HSBC account but PayM is still an option. If you click the Pay someone new within payment it gives the options of UK Bank Account Details, Paym or Select a company.

Hazzanet

In my opinion, and like a few things that Pay.UK have rolled out in the past, PayM is a solution waiting for a problem.  

The argument against giving your bank account and sort code out is weak; they have been printed on cheques and most debit cards for years.  The Jeremy Clarkson situation is often cited, however, he did print his bank details in a newspaper and more or less asked for it.  He could, easily, have contacted the bank, informed them of the unauthorised transaction and had it refunded - perhaps he did, or perhaps he thought it too much to claim it back from Diabetes UK.  

The registration process for PayM is a bit clunky, a hassle to change between banks and not supported by all banks (as I understand it, Clydesdale/Yorkshire came out of it for some reason) and it didn't take off when launched.  Other apps such as PayPal, Starling, Monzo and others just have a much better user journey.  

Turning to portable account numbers, this wouldn't be impossible with the new payments architecture: give each account a unique identifier in the system and a lookup table that holds the sort code/account combination and do the redirect at the architecture level.  It'd break the system where you see accounts starting 3x = Lloyds, 4x = HSBC etc but it would be possible to do.  Just expensive and again, whats the point when there's CASS anyway?

PayM came a bit too late to the market when other apps had already superseded it so it didn't get market traction.  I've only used it once, more often than not, I'd ask for sort code and account and just make a faster payment to someone.  PayM wouldn't even register as an option usually as a faster payment isn't difficult.  

[Deleted User]

Ballard said:

[Deleted User] said:

If I'm not mistaken the option has been removed from the HSBC app. Or moved within it.

I don't really use my HSBC account but PayM is still an option. If you click the Pay someone new within payment it gives the options of UK Bank Account Details, Paym or Select a company.

So it does!

adindas

DCFC79 said:

adindas said:

From this site, I have seen it is free to use

https://paym.co.uk/santander/

I understand Pay-M is linked to santander account. is Pay-M issue a debitcard that could be used like (Ping1t - Barclay) ? I think some people here appreciate how they become usefulll if they f they issue a debitcard (even it is virtual card) wth sixteen digit number on coukd work like(Ping1t - Barclay).

Ping it is closing
There no rush to spend the money as ot will be transferred early June into your Barclays account.

Apart from Ping or Revolut-ion apps does anyone know an alternative method similar to this where you could pay an account using a debit card ??

penners324

Monzo.me and something similar on Starling