Send money via text or email (even if they don't have Monzo!)

From the Making Monzo team! :smiley:


It’s this PAYM?

What is the code backing this one up?

How does it work for a friend that doesn’t have monzo - what do they see?/how does it end up in their account

Really like the idea though

1 Like

PAYM usually works via mobile phone number

1 Like

I imagine the message sent has an option for the receiver to input their bank details and then Monzo sends the money using the Faster Payments Service.

Hopefully, the sender has to authorise the payment from within their app (like 3D Secure) for a little extra security.


Hmm. I reckon it sends them a unique link to sign up with then transfers the money to that new account.

I mean I know it says “don’t have monzo” but how would this work unless it’s a web form to input your payment details.

That might get annoying as if it is someone I transfer money to regularly they might not fancy entering their bank details everytime

I guess they’d either have to join monzo or you’d save them as a payee.

I mean we’re guessing how it works here :smile:

I’ve got to be honest, I’ve never really got the whole sending money by text (PayM/Ping) thing. Maybe I’m just old! If I’m sending you money, you’re either a mate, or a service I’m paying for, so I’m going to have your account details, which I can save should I need them again.


Monzo automatically saving the inputted details as a new payee would solve this problem.


A few years ago, I’d have agreed with you. But the whole share your contacts with Monzo so you can send anyone on Monzo money has changed my mind, makes things much easier.

I’d only have asked a friend for their bank details if I’d had to pay them for something, so unless I’d paid them in the past I wouldn’t have their details.

If this feature is going to work like I think it will, and Monzo saves the inputted bank details as a new payee, then it could be very useful when you owe people who you haven’t had a transaction with before.

Much easier to get them to input their own bank details then ask them to send them to you and then you input them.

NB: I think PayM didn’t work because not enough people had it or knew they had it to make it worth asking about.

1 Like

Going to reserve judgement on this until more details are given :thinking:

1 Like

The killer USP about Paym is that, in most cases, the payee’s details (ie. the phone number) are already verified, because you’ll have made contact using them in the past. It takes away the double/triple checking the sort code and account number is correctly entered, because you select the payee right from your contacts, and the name then verifies in the banking app (it displays the details Paym holds against a number)

All Paym is, is a simple lookup matching number to bank account, and having created something which would virtually obliterate a lot of fraud, it’s annoying the banks won’t push it.


This is rolling out via Labs on the latest Android beta update :eyes:

1 Like

Looks like Barclays have already stolen this too! Someone just sent me a link to pick up some money from PingIt…

Barclays have had that for years. Never used it

1 Like

This topic was automatically closed 180 days after the last reply. New replies are no longer allowed.