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Pingit from Barclays – a new way to pay

Pingit from Barclays – a new way to pay

Category: Banking

This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.
Making quick, secure payments has got a whole lot easier since the advent of online banking.

Smartphones (Android, Blackberries and iPhones) have taken this convenience to an even higher level. Several banks now have online banking apps that allow you to make payments, check balances and undertake other day-to-day banking tasks without a laptop or PC in sight.

But even this is not convenient enough…

Do you know the account numbers and sort codes of your family and friends?

Thought not.

With a banking app you'd still need to know this info to make a payment to someone. So you might call them to get this, ask them to email or send a text. This takes time, and is hardly the most secure way of sharing sensitive information.

But what if you could make a payment, just by knowing somebody's mobile phone number? In fact, you wouldn't even need to 'know' it at all, as it's most likely already stored in your phone contacts.

How does Pingit from Barclays work?

Pingit is a free Smartphone app that lets Barclays current account customers send payments quickly to friends, family and small businesses, by using the mobile phone number of the person who's being paid.

It works by linking a UK mobile phone number to a UK bank account. You can send between £1 and £300 per day using the app, and receive up to £5,000.

Making a payment with Pingit takes just three simple steps:
  1. Select the phone number of the person or company you want to pay. (either from your phone contacts or by manually typing the number)
  2. Enter the amount you want to pay them (between £1 and £300).
  3. Check the details and confirm.

Who can use Pingit?

The app is only available on Android, Blackberry and iPhone. At present it's only Barclays' current account customers who can send money, although customers of other banks should be able to send money using the service soon (this is expected to be rolled out in March 2012).

Anyone with a UK bank account can receive a Pingit payment. However, you'll need to register to link your phone number to your account. You don't need to have the Pingit app to receive money.

Even small businesses can use the app, providing there is a sole signatory for the bank account in question.

What about security?

Pingit is protected by requiring you to enter a passcode every time the app is opened, so even if your phone is stolen or lost, your account is secure.

However, in the eventuality you lose your phone Barclays advises that you call 03332 001012 to disable the account just in case.

If you're using any kind of mobile banking app, or even just using mobile internet to login to online banking, you're best to follow these precautionary measures:
  • Do not store PIN numbers, bank details or any other sensitive information in your mobile. Storing details under "Mr Pin" in your phone book will not fool most thieves!
  • Take advantage of the passcode function on your phone. This means that you have to enter your code before the phone can be unlocked for use.
  • On the iPhone 4S, enable "Find My iPhone". If your phone is lost or stolen, you can sign in to (or use the "Find My iPhone" app on another iPhone or an iPad). This service will let you:
    • Find approximately where your iPhone is.
    • Send a message that informs someone who finds it, that the phone is lost and how to contact to you.
    • Set a passcode lock on your iPhone remotely to prevent somebody else using it.
    • Wipe the iPhone to prevent your information falling into the wrong hands.

What next?

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Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.