Send money by mobile with a free bank app

Published on Thursday 16 February 2012 01:13

A “revolutionary” app enabling people to send and receive money just by using mobile phone numbers is to be made available across the UK.

The Barclays Pingit allows users to send and receive cash to and from anyone with a UK current account and mobile phone number, without having to share bank details.

The app, which is free to download and use, links the user’s current account with their phone number and those sending money only need to know the recipient’s mobile number.

Only Barclays current account customers can initially use the app, but a later UK-wide version aimed at all current account customers aged over 18 is planned from early March.

To send money, customers can use the app available on iOS, Android and BlackBerry, or they can register online to receive payments regardless of their phone type.

Antony Jenkins, chief executive, Barclays retail and business banking, said the app could “revolutionise” the way people send and receive money.

He said: “For friends splitting the cost of dinner, repaying a borrowed £10 or people sending money to a son or daughter at university, it’s free, quick, convenient, secure, and easy to use.

“You can send and receive money in seconds, without having to enter account details.”

Payments must range between £1 and £300 and the maximum someone can receive in a day is £5,000.

Barclays said transfers were as safe as any other banking transaction and the app was protected by a five-digit code set by the user.

Rachel Springall, for comparison website Moneyfacts, said: “While this feature strives to be a secure service, customers need to ensure they input the correct mobile number on outset and that they are careful when making transfers so as not to select the wrong amount.

“It will be interesting to see how other lenders react.”

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Mark Bishop

Monday, February 20, 2012 at 07:14 PM

They've been doing this for years now, in Kenya. It's called MPESA. You can send money to a mobile phone there from another phone anywhere in the world or within Kenya. It's used to send money up country from a relative who has a job in eg Nairobi to someone in rural Kenya. An amount is sent then the person collects the money from the post office. Works well with Western Union as well. Nothing new, I'm afraid.

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