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Payment to Prepay Technologies Ltd

sparkiemalarkie
sparkiemalarkie Posts: 925 Forumite
Tenth Anniversary 500 Posts Name Dropper
edited 22 October 2021 pm31 2:18PM in Budgeting & bank accounts
Hi, I am buying a service and need to pay by bank transfer. I have Googled the sort code 23-69-72 and it has come up as  Prepay Technologies Ltd.
I am completely unfamiliar with this bank and I can't seem to get any information on it.

Can someone shed some light on it for me please before I part with any money.

tia

sx
«1

Comments

  • jimjames
    jimjames Posts: 18,285 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    Is it the bank? Sounds more like the company you're paying?
    Remember the saying: if it looks too good to be true it almost certainly is.
  • Daliah
    Daliah Posts: 3,792 Forumite
    1,000 Posts First Anniversary Photogenic Name Dropper
    They are definitely not a bank. You can check the FCA Register for their authorisations, and Companies House for their accounts and other company information. 
  • A bit of Googling suggests this sort code / Prepay Technologies is the payment provider for Mettle which seems to be a business account provided by NatWest. Sounds a bit convoluted.
  • wmb194
    wmb194 Posts: 4,285 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    It seems to be some sort of intermediary to provide services to other companies.

    "A trading name of PrePay Technologies Ltd, PPS is an E-Money institution based in the UK, authorised by the Financial Conduct Authority... PPS is a direct participant in Pay.UK’s Faster Payments, BACS, and Direct Debit Services"

    https://www.pps.edenred.com/pages/pps-eu
    https://www.pps.edenred.com/
  • I have text the service supplier and apparently it's Mettle Business Account ~ Part of Natwest
    I have done a dummy payment run on Barclays and everything tallies
    thanks for the help

    sx
  • Be careful with this lot. I was scammed out of £1621. Sort code and account all checked out when creating a payee, however it was a scam. I thought I was sending money to an account to help my daughter out after a fake Whatsapp message. Sort code was 23-03-63 Prepay Technologies. Other codes to be careful of 23-75-24 Prepay Financial Services. I got more stories regarding these sort codes from chat pages. When I complained to the beneficiary "bank" the response came from a company called Suits Me....thought that was a joke too much like Suits You Sir. Anyway my bank fobbed me off so I contacted the Financial Ombudsman and the bank refunded me my loss. I have reported this lot to Action Fraud and the FCA. Be very careful with this bunch. 
  • It's actually a Barclays sort code provided to Agency banks. 
  • We also had an attempted scam through Whatsapp, same scenario as noted by @llenar here. We have blocked the phone number, reported it through Whatsapp and decided to ask the phone company for a replacement phone number to avoid further mis-use by un-known parties (other choice words for them being uttered here!)

  • I just had exactly the same scam tried on my as @adeyZZZ and @llenar. I'm an IT Specialist and I was convinced the messages were from my daughter but the bank details looked dodgy. Thankfully I refused to pay any money but thought I was protecting my daughter rather than myself. It was only when I actually managed to speak to her that I realised it was a scam.

    Reported to Action Fraud and gave the phone number and bank details of the fraudster and as I'd not actually paid anything out - they refused to accept it as a crime. So it appears that Attempted Fraud is perfectly acceptable - absurd!
  • Sort code 23-69-72 and description of Prepay Technologies Ltd is used by Monese

    I have a Monese account and I have that sort code and when I setup a payee in my Chase account for my Monese account, it added it as Prepay Technologies Ltd.

    Whether any other financial services can use that same sort code I do not know.

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