Fed announces details of new interbank service to support instant payments

Re:Fed announces details of new interbank service to support... by pbhjpbhj on Monday August 10, 2020 @10:06AM (#24109364)

Those transactions always make me nervous - is there a reason they don't have a step of showing the account name when you input the number? Like, I type 31-45-76 0452768934 and it says "Mr & Mrs Y O Mama" or "Notafraud & Co. Ltd." or whatever, as a confirmation?

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Re:Fed announces details of new interbank service to support... by acta_non_verba on Monday August 10, 2020 @10:32AM (#24109655)

You’ll be pleased to know we do now have this in the United Kingdom. It’s called Confirmation of Payee.

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Re:Fed announces details of new interbank service to support... by IanCal on Monday August 10, 2020 @10:30AM (#24109626)

That does exist now in the UK, I had it last time I sent money - I put in the name I expected and then it showed me the name on their account because they were a bit different.

For companies there are present lists so I don't need to know most company details to send say gas bill payments.

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Re:Fed announces details of new interbank service to support... by Dobbs on Tuesday August 11, 2020 @07:11AM (#24119130)

We have this for IBAN payments within the NL, I can't speak for the rest of the EuroZone.

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Re:Fed announces details of new interbank service to support... by krageon on Tuesday August 11, 2020 @07:52AM (#24119356)

The name check isn't universally supported, so it is better to say that it is strictly optional.

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