Paym Scheme

[Hettster]

If John Bloggs has two bank accounts, say one with Barclays and one with HSBC, both of which use the PAYM scheme . . . . . can John Bloggs transfer money from one John Bloggs bank account (Barclays) to another John Bloggs Bank account (HSBC)?

I hope that question makes sense

[factor-fiction]

I can't see any reason why not. Would Barclays even know it was the same John Bloggs

[factor-fiction]

...I hadn't quite finished there.

[twix123]

Looking at the FAQs supplied by the various banks involved in the scheme at present, as I understand it, you can make a payment from any of your bank accounts by using that bank's particular App, you can only register your mobile phone number to receive payments into one designated bank account, e.g. you could make a payment from your Barclays account to your HSBC account using your mobile number, but could not transfer from your HSBC account to your Barclays account using the same mobile number, unless you re-registered the phone to the other account and dis-associated the previous phone number/account.

A way around this problem is to have two mobile phones, or a dual SIM phone (if they a still available in the UK).

I hope that this answer makes sense.