PayM Support

Cheque imaging not on the roadmap?

Be great to see this feature

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Sorry for bringing up an old thread, but I was wondering if this was still a feature monzo has on the roadmap in the future or if it’s been shelved?

What is the likelihood of Monzo adopting Pay m? I used to find it really useful when people could just “txt” me money.
I know there are a million ways to send money to Monzo, and the links are absolutely amazing, but pay m is soooooo convenient when you don’t even have to worry about what bank someone is with.

If sending Monzo to Monzo, you would be able to intercept and circumvent this as well, so you don’t have to pay the fee.

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It’s been talked about for a long time but, alas, this is another banking feature that’s been neglected

Pay a fee for what? Monzo don’t charge a fee for bank transfers.

That makes it sound overly grandiose! This is just something they’re not doing at the moment.

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It’s just sad to see when it’s supported by the apparently ‘legacy’ banks that have more tech than monzo these days.

Considering that there’s actually very few ways to send money to a monzo account now as well. Paym support would be an easy simple option supported by every major bank.

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It’s funny, I still think of Paym as a niche product. I’ve never used it and so (obviously) don’t know of anyone else who has either. Is it actually common in the real world or just those who are into esoteric banking products?

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It’s supported by all major banks. Ive used it several time even with family.

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My brother suggested it once but neither of us were actually registered. It’s the only time it’s ever come up as a real payment suggestion.

Takes about 30 seconds.

I’m sure. So did the bank transfer he sent me.

I’m not against it in any way, I just don’t really see the benefit over anything else.

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You only need someone’s number, which these days is ubiquitous. How many people have everyone’s account details in their contacts?

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For me it takes away a lot of the possibility of mistyping bank account numbers and sort codes. Most people already have a telephone number stored, and verified, through previous communication. It simply takes 30 seconds to set up, then you forget about it and you never have to have the “what’s your account and sort code?” conversation again.

Then the name of the payee actually appears to the sender before you hit ‘pay’ which is something the banking industry is trying (and spectacularly failing) to implement right now to combat fraud – even though it already exists with Paym.

And it’s transferable, so you change banks but your payee details stay the same.

Regards the “but no one has it” traction issue, the banks should actively offer to link account and number when an account is opened. “Would you like to receive payments via your number?” Tick yes. If you object, fine, but make it the standard.

It’s like everyone invented a good fix for quite a few problems, and then failed to leverage or promote it at all.

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It’s… an interesting fix. Right idea, has some big flaws though and as a result, nobody has really pushed it as a central solution and there is very little incentive to support it.

I believe a v2 with most of the issues resolved could take off if it got the same kinds of pushes that the Current Account Switch Service gets.

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What are they?

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I just realised that Monzo somehow still don’t support PayM. No update on this? Is it on the roadmap?

It’s a pretty basic feature that I’ve used for decades years. It’s not like it’s some wacky new system. Support is pretty common. Sad to see Monzo behind on this. :disappointed:

I’m not sure if there is a roadmap on the roadmap, to be honest. If it is on the map, it’s a long, long way away.

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Decades? It only started six years ago, in 2014.

I agree it’s a basic feature, though, and I use it frequently. All the legacy banks except CYBG/Virgin Money support it. CYBG used to support PayM until they “updated” their systems and decided to drop it.

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You’re quite right, and I’ve no idea why my sleepy brain said decades when I meant years. Thanks for the correction!