BoI to Launch 'Pay to Mobile'

L

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Interesting app in development from BoI ...

BoI said:
Launching to iPhone users early in the New Year, Pay to Mobile will allow our mobile banking app customers to transfer money to any registered Bank of Ireland account simply by knowing the mobile number of the account holder.

You don’t need to know the bank account number or sort code of the person you’d like to transfer money to, you just need to know their mobile number.

It’s a really convenient and fast way to transfer money and is safe and secure.

Pay to Mobile to follow soon on the Mobile Banking App for Android.
Click to expand...
 
Similar idea was advertised for some english bank, possibly Halifax recently. I dont understand how banks go to such trouble over PIN numbers, confirmation codes etc and then allow you to transfer with just a mobile number. Seems very unsafe IMO.
 
Max. €100 per transaction, and only to other BoI personal banking customers who have also signed up to it and registered their mobile number. With only a few more clicks of the existing app I can do a lot more, regardless of which bank the recipient uses.

It's handy enough, I suppose, but as an added convenience it hardly makes up for the reimposition of fees on current accounts and the reduction of in-branch services. Maybe it will lead to more useful developments (like text alerts, available through many other online banking services).
 
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