Pay a contact

[philfish]

As anyone seen this being offered by the banks?
Does anyone use this to get paid?
Apparently they link your bank account to your phone number and vis versa for the customers (usually an app on the phone) and people can pay each other directly upto £250 per transaction no exchange of bank details no storing of customers details etc do not think there is any extra charges from the banks but I am not totally sure about that.

Just thought would be another way to get paid and see if anyone else is using it yet.

Phil

[Martin]

Re: Pay a contact

Natwest wrote:
(You need to have registered for Online Banking before you can download the mobile app)
Login to the mobile app
Choose ‘Pay your contacts’
Choose the contact you want to pay or enter the mobile number of the person you want to pay
Enter the amount you want to pay, your name and a message – you will need to tell the payee how much you are sending them
Payee will receive an SMS including a link
When they click on the link, they are taken to a secure page where they input the amount they are expecting to receive, and their Visa card details
You’ll be notified by text message when the payment has been collected
The payee has 7 days to collect a payment from the day they receive the notification
Funds will be credited within the next business day of collection
Sum of payments to non NatWest/RBS app users cannot exceed £250 a day. This limit is independent of your daily withdrawal and Get Cash limits
Process shown is for the iPhone. For Android, Blackberry and Windows devices, steps may vary slightly
Pay Your Contacts lets you send money to someone aged 16 and over with a UK mobile number who has a NatWest/RBS Mobile Banking app or a valid UK Visa debit card, credit card or prepaid card.
For payees that are NatWest mobile app users, they will be notified by SMS and funds will reach their account instantly.
There is a maximum payment of £250 a day.
Pay Your Contacts is available for NatWest customers aged 16 and over on Android, iPhone, Windows and Blackberry.
You must have available funds to send from your account (including any overdraft facility).
Mobile Banking app available to NatWest personal account holders with a debit card, Online Banking and a UK mobile number.

[philfish]

Re: Pay a contact

Think it is run through a company called paym and it looks like most of the big banks inc natwest have already took it on as a way of payment.
Looks like an easy way of getting payment without to much hassle, just hope it lives upto the hype.

Phil

[iadom]

Re: Pay a contact

Or Pingit from Barclays.

[stratfordgirl]

Re: Pay a contact

I used Pingit last year to collect payment from one customer. There seem to be a plethora of other similar services being set up by other banks, eg Paym from Santander.

With Pingit, it was easy for the customer to pay, but a right palava to get hold of the money. I was in the customer’s house for a good 20 minutes going through the various set up and verification processes to get the money transferred from Pingit. From memory, if you don’t go through the process within a few days, the money goes back to the customer.

So for me, these services are a last resort. Fine, maybe, for friends and family, but not for business transactions.

[Author]

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