PayM Support

So was my summary correct but only for some implementations? Just so I know how to amend my post.

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I hope they do NOT auto sign up customers. I should be free to chose if I want my number entered into PayM or not. I have currently chosen not to.

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I think it has not taken off as it has to be tied to one account only There is no way when receiving funds to perhaps chose an account from a preregistered list of accounts.

Your summary is correct with the part about the holding money being correct for Barclays PingIt (the last time I used it at least). :+1:

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Ah and I was going to say I think I experienced it with pingit. Thanks :+1:t2:

Didn’t know about Pingit. Thanks.

This would add an unnecessary layer of complication to the sender. I can send my money where I want once it’s got to me, shouldn’t be up to the sender to make that decision.

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It need not cause friction for sender. They could just send to a phone number but the recipient then log in and draw down the funds to their prefered account, or like Curve they could store multiple accounts and set a default and change it when they wish…such as just before receiving an expected transfer. Though of course this would require PayM holding funds for a while rather than just forwarding funds

I still think this adds complication to the simplicity Paym was created to bring to bank transfers. I can achieve the same result with my existing bank app, and don’t need an extra app or login details.

And, thinking about it, you’ve essentially just described PayPal.

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I’ve spent all day updating my banking details online and over the phone, giving everybody my new Monzo current account/debit card details.

Aside from TV Licensing, the only issue I’ve had is with PingIt.

I’ve tried twice now to re-register with my Monzo account details, and both times the app has failed to verify my identity. It previously had no problem with my old Virgin Money account.

I’m wondering if because Virgin Money have my current mobile number on their records, this is stopping me from using PAYM with a new bank. :thinking:

The only person who uses PAYM to send & receive money is my sister!!! I’ll tell her that next time she sends me funds, to just wire me using my sort code and account number.

Do PAYM have a central body that I could contact, to update my details with? It’s all so vague. Is it a central database, or does each bank NOT share their customers’ mobile numbers?

Monzo doesn’t support PAYM at the moment as far as I know which is probaly why you can’t make it work. You can leave it set up on your ‘old’ account if that’s staying open.

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Ah, that’ll be why!!! I guess I can change it back to my old Virgin Money account.

Hope Monzo will support PAYM soon.

I’ve just seen that card top-ups are back for Monzo current accounts, but you can only top-up in multiples of £10.00.

So, if my sister owes me £39.99, she’ll send it via PAYM to my old Virgin Money account, administered by PingIt. The Virgin Money account was a very basic account, which didn’t have online PAYM facilities.

I’d have to open the PingIt app, and withdraw the £39.99 to my Virgin Money account - which could take up to a couple of hours to clear.

I’d then have to wire £0.01 from my Monzo app to my Virgin Money account, and wait for the Virgin Money balance to update, before I could then use my Virgin Money debit card to top-up my Monzo account by £40.00… because we have to top-up by debit card in multiples of £10.00.

It’s going to be a tad convoluted. :neutral_face:

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It’s been a while since I used PingIt but can’t you have PingIt itself be the PayM destination? So if money is sent to your number it goes into pingit. Then it can do a bank transfer from there to your account? I’m sure that’s how I had it set up in the past.

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I actually thought that’s how it functioned. PingIt is actually a Barclays account with PAYM functionality.

Why it can’t verify my identity now, when trying to re-register with my Monzo account, I don’t know.

Wouldn’t it be simpler to have your sister do a Faster Payments transfer for £39.99 direct to your Monzo account? It will arrive instantly and not require any intermediary.

Though I agree it would be great for Monzo to add support for PayM.

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Well, yeah. I’m unsure why she uses PAYM at all. Maybe it’s promoted by her bank as their preferred online payment method? I really don’t know.

Yeah, I can imagine it’s easier for her for whatever reason. As I say, I hope Monzo does support PayM so this kind of thing isn’t an issue. But in the meantime I was thinking if you could convince her to do Faster Payments (usually after the first setup it’s pretty easy for subsequent transfers from legacy banks), it might save you a headache!

Or maybe PingIt could work and it’s just that Barclays hasn’t updated their sort code database? Where is the verification failing? Is it that you’re trying to add your Monzo account as one you can withdraw funds to? I’ve not used PingIt before, so this is just a guess.

The ID verification is failing right at the end of the re-registration process. It might be something as simple as the apostrophe in my last name - you wouldn’t believe how much hassle it can cause me.

On some databases it’s a ’ whereas in others it’s a ’ - and some organisations ignore the apostrophe completely.

Those two punctuation marks above, are different characters, even if they look the same here. :neutral_face:

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I uninstalled and then reinstalled the PingIt app. It’s working with my Monzo current account now. I should have done that first. :roll_eyes:

I still don’t see the benefits of PAYM though.

I must have changed my mobile number a half dozen times over the last decade. Although I’ll always update friends & family with my new mobile number, they tend to not delete my older mobile numbers from their contacts.

I’ve had others send me money via PAYM to phone numbers I no longer use, in the past. It’s a hassle for them to re-call and re-send to my correct current mobile number.

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You know you can keep your number if you want to? I’ve not changed mine since October 1999.

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