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swimfeeders
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Shropshire
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11-12-2017, 08:40 PM
1

Check before you pay.

Hi

With the rise in Internet and telephone Banking we often send money electronically to accounts..

You can check the Sort Code you are sending it to here before you send it.

https://www.paymentsuk.org.uk/consum...t-code-checker

A useful final check before sending large amounts.
realspeed
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11-12-2017, 08:47 PM
2

Re: Check before you pay.

We on't do online banking too easy for hackers to get into, everything is done via paypay by us.
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Bruce
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Wollongong, Australia
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11-12-2017, 10:29 PM
3

Re: Check before you pay.

Originally Posted by swimfeeders ->
Hi

With the rise in Internet and telephone Banking we often send money electronically to accounts..

You can check the Sort Code you are sending it to here before you send it.

https://www.paymentsuk.org.uk/consum...t-code-checker

A useful final check before sending large amounts.
I am surprised your bank doesn't tell you when you enter the number - or perhaps I misunderstand the system.

My credit union web site puts up the information about the bank and account number when you enter it to transfer money on line via Bpay - I use that to pay all my bills etc. There are other methods which I haven't tried but that one is free and quick
Julie1962
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12-12-2017, 11:17 AM
4

Re: Check before you pay.

Our bank gives us all information we need including sort code etc when sending money. Do quite a few instant transfers these days.
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Bruce
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Wollongong, Australia
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13-12-2017, 03:33 AM
5

Re: Check before you pay.

Talking about bank transfers. As I said I usually use Bpay to transfer money for bills etc but if I send money to my kids or a personal bank account I need to know two pieces of info the BSD No (this identifies the bank) and the account number.

Now it appears this is to become old hat with this email I received to day from my Credit Union:


Hi Bruce,
Currently when you make a payment to someone you need to know their BSB and account details, and payments themselves can take up to three business days to process.

Early next year, the New Payments Platform (NPP) will launch in Australia and will change the way we pay each other.

Osko, created by BPAY™, is the new system Australians will use to send and receive real-time payments using the NPP.

Paying by Osko will mean payments between people are faster, simpler, smarter and more secure than ever before.

What you need to know

Faster

When you’re sending or receiving money, in most circumstances available funds will be received in less than 60 seconds, 24 hours a day, 7 days a week.

Simpler

Customers who pay using Osko can make and receive instant payments to each other via their participating financial institutions. Whether it's splitting the bill at a group dinner or paying a freelancer at the end of a job, paying with Osko will mean payments are faster, easier and more certain than ever before.

Smarter


You can send more detailed descriptions with your payment (up to 280 characters).

More secure

When you’re making a payment using a PayID, you’ll automatically be shown the account name linked to that PayID before you approve the payment, giving you an additional layer of security before paying someone.

When can I register for Osko?

A PayID is a simpler way to identify your account.

When someone needs to pay you you’ll be able to give them your mobile number (for example) rather than your account number and BSB details.

When you register your PayID, you’ll be asked to link your account to one of the following identifiers:

Your Australian mobile number
Your email address
I hope that makes sense - the email itself has illustrations and pictures which I have had to cut out obviously.

Personally I can't wait.
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Meg
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Worcestershire
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13-12-2017, 10:35 AM
6

Re: Check before you pay.

I have heard some real horror stories on the radio about losses or fraudulent activity during bank transfers.

The Money Programme says a good thing to do is to transfer £10 to an account then make sure it has reached the correct account before transferring more.
Julie1962
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Surrey
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13-12-2017, 10:40 AM
7

Re: Check before you pay.

I'm not sure about other banks but ours has a lovely lady leads us through the process no chance unless we make a real boo boo to get it wrong.
Norway
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13-12-2017, 10:43 AM
8

Re: Check before you pay.

Originally Posted by Meg ->
I have heard some real horror stories on the radio about losses or fraudulent activity during bank transfers.

The Money Programme says a good thing to do is to transfer £10 to an account then make sure it has reached the correct account before transferring more.
Yes Megs this is what I did with an on line firm called "Transferwise" The rates they quoted seem too good to be true so I just did a £10 transfer first, Perfect transfer took 12 hours no problem, so now use them regularly.
Sorry sounds a bit like an advert, but the best thing to do for a start.
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Longdogs
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SW England
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13-12-2017, 12:18 PM
9

Re: Check before you pay.

A useful tool none the less for double checking occasional payments.

Thanks Swim.
 

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