Rabobank launches money transfer service based on mobile phone numbers

Monday 14 December 2020 13:47 CET | News

Netherlands-based Rabobank has launched a money transfer service based on mobile phone numbers.

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.

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Keywords: Rabobank, The Netherlands, Europe, money transfer, mobile payments, IBAN, bank account, P2P payments
Categories: Payments & Commerce
Countries: Netherlands
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Payments & Commerce

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