Customers can now transfer funds to other users based on the recipient’s mobile phone number instead of the IBAN account number. The transfers will be conducted via the bank’s mobile app.
To use the service, customers have to register their phone number in the app, confirming the fact that it is linked to their bank account. The check is conducted by SurePay, the same company that verifies a name is associated with an IBAN account number.
Currently, the service is available only to Rabobank customers in a beta phase. The company plans to expand the service to other banks in future.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now
We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the The Paypers website, they in no way represent the opinion of The Paypers.