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On Wed, Jan 12, 2011 at 05:07:09PM +0000, Simon Waters wrote: > > The services in the paypal arena typically are offering slightly more, > such as handling diverse cards, providing guarantees to purchasers, > handling refunds, handling currency transactions. For which it is > entirely reasonable that they are compensated appropriately. > > I believe with bank transfers if you put wrong, but working, details in > you are basically stuffed and the money has gone. > > I don't have a problem paying a significant %age on small transactions > for a sensible recurring transaction mechanism, where the provider > provides customers with confidence that they can cancel the service, or > get a proportionate refund, etc. > The *faster* payments work on the principal that the IBAN you enter is correct. I am not aware of any system that allows cross bank checking of IBANs (IBAN = International Bank Account Number - basically roughly equivalent to account number and sort code) I agree what is irritating is that the banks ask you to put a name and account number but then ignore the name. (May be understandable if you misspell the name and get the payment rejected eg Smith | Smythe) The money has gone: but the recipient is obliged to return it unless they spent it unknowingly. Speed here is therefore of essence: to communicate to your bank to get them to contact the other bank and get the money returned. -- Henry Photocopies or faxes of my signature are not binding. This email has been signed with an electronic signature in accordance with subsection 7(3) of the Electronic Communications Act 2000. Digital Key Signature: GPG RSA 0xFB447AA1 or 0x3184D537 Wed Jan 12 20:08:29 GMT 2011
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