PAYM System Closing

jbrassy

Starling Bank have a nifty feature called Settle Up where each user has their own weblink they can send to people. When someone clicks the weblink, they just need to fill in their bank details to send you money. 

EarthBoy

jbrassy said:

Starling Bank have a nifty feature called Settle Up where each user has their own weblink they can send to people. When someone clicks the weblink, they just need to fill in their bank details to send you money. 

The problem with this is that the message would probably be dismissed as a phishing scam. If I received a text asking me to input my bank details into a weblink I would delete it immediately. 

AmityNeon

EarthBoy said:

jbrassy said:

Starling Bank have a nifty feature called Settle Up where each user has their own weblink they can send to people. When someone clicks the weblink, they just need to fill in their bank details to send you money. 

The problem with this is that the message would probably be dismissed as a phishing scam. If I received a text asking me to input my bank details into a weblink I would delete it immediately. 

It's meant for settling up IOUs between people known to each other, and it only requires card details with no pre-registration. As long as the payer is aware of Starling's status as a licensed bank (so they trust starlingbank.com), and the username in the link is confirmed by the payee, it can be a convenient method for requesting/sending money. Monzo also has this feature.

[Deleted User]

AmityNeon said:

EarthBoy said:

jbrassy said:

Starling Bank have a nifty feature called Settle Up where each user has their own weblink they can send to people. When someone clicks the weblink, they just need to fill in their bank details to send you money. 

The problem with this is that the message would probably be dismissed as a phishing scam. If I received a text asking me to input my bank details into a weblink I would delete it immediately. 

It's meant for settling up IOUs between people known to each other, and it only requires card details with no pre-registration. As long as the payer is aware of Starling's status as a licensed bank (so they trust starlingbank.com), and the username in the link is confirmed by the payee, it can be a convenient method for requesting/sending money. Monzo also has this feature.

The settle up function is not that much more expedient than Faster Payment where you don't bank with that institution. FPs, cash and even old fashioned cheques (with app cheque imaging) can all be ready alternatives.

I've had PAYM setup for years and never used it.