Sending Money to someone without a bank account ?

Pantomimehorse

Hi I've come across this service called Cash Perks the service seems to allow you to send money to someone via a text message which they then go to a cash point and draw cash out using the text with no actual bank account required,

Its an interesting idea and I wondered if anyone was aware of any other companies doing the same thing ? I'm especially interested in the fact the end receiver does not need a bank account which enables someone that may be otherwise overdrawn to receive emergency funds

Id appreciate any help

Ballard

I’m no expert but I think that companies like Western Union perform a similar service. Perhaps MoneyGram as well. 

blackdog2220

umm , but how do you  "talk" to the cash machine , in the UK they require s debit/credit card inserting in the slot , the chip reading to identify you 

maybe this works in other countries , but i cant see it working here 

well this is the company , it says "use a txt code" http://www.cashperks.co.uk/

unsecured site , no actual instrucrtions or ability to do the job 

https://find-and-update.company-information.service.gov.uk/company/12508643

Pantomimehorse

yeah I dont like the look of the company or the site so figured if its possible to do maybe a more established company would offer the service. I want to be able to send cash to people that are overdrawn etc and on the face of it sounds ike a great service 

Chino

Pantomimehorse said:

yeah I dont like the look of the company or the site

In any case, the website reads as if the company only offers this service to bodies such as companies, councils and charities wanting to send payments.

blackdog2220

not that i use it , western union ? , can you RECIEVE money or just send it 

PRAISETHESUN

A few of my Aussie banks do something similar, although it's limited to that particular bank's branded ATMs (ie. you can't use a Westpac ATM to get cardless cash from your Commonwealth Bank account). You have to first authorise the transaction through online banking banking and you then get given a code you enter into the ATM to authorise the cash to be dispensed - there's an option on the main screen of the ATM you select. Never used it, but it seems relatively straightforward and secure. Not aware of any UK banks that offer this though.

colsten

I would have thought that any pre-paid card could be used to give money to people who want to bypass their bank accounts. I would stick to the better known brands.

colsten

Companies House does have a firm called CASH PERKS LTD, with company number 12508643 and the two Directors named on the website. Registered nature of business is "82990 - Other business support service activities not elsewhere classified".

I cannot find cashperks or Cash Perks or its directors on the FCA register. I would have thought anyone handling money for the public would need to be FCA registered?

k12479

blackdog2220 said:

umm , but how do you  "talk" to the cash machine , in the UK they require s debit/credit card inserting in the slot , the chip reading to identify you 

maybe this works in other countries , but i cant see it working here 

The basic functionality of withdrawing cash with a code has been around for a while. Natwest, and possibly others, have something for emergency use when you've lost your card, e.g.:
https://supportcentre.natwest.com/Searchable/913240862/What-is-the-Emergency-Cash-service.htm

Pantomimehorse

Chino said:

Pantomimehorse said:

yeah I dont like the look of the company or the site

In any case, the website reads as if the company only offers this service to bodies such as companies, councils and charities wanting to send payments.

I am looking at this for a charity so that's all fine, just want something more established