Of Special Interest

17th April 2012

Pingit P2P now open to customers of all UK banks

Pingit the Barclays P2P service, is now available to all UK bank customers for sending and receiving money. Between its launch in February and this week, only Barclays customers have been able to send money, although any UK bank customer has been able to receive a payment. A payment can be made by any person 16 or over with a UK current bank account* to any current bank account holder for which the sender has either a mobile phone number or bank account details for.

There is a need to register before money can be sent or a recipient can receive the money. Recipients have just 24 hours to register if notified of a payment having been sent to them. If they fail to do so within this timeframe the transaction is cancelled. Non-Barclays customers will have to fund a Pingit e-wallet first in order to make payments.

Barclays promises a host of new additions for both personal and business customers including joint account registrations. There is no charge for the service when used with personal bank accounts. Barclays states that 'normal transaction charges' may apply to business customers.

Antony Jenkins, Chief Executive, Retail and Business Banking, Barclays: “Barclays Pingit is proving to be more popular than even we were expecting and from today the customers of all UK banks and building societies can also benefit. The ability to make simple payments to whoever they want, wherever they are, instantly and securely, is making many people’s lives much easier.

“Barclays Pingit is potentially a revolution in banking but this is just the beginning. We are listening to customer feedback and monitoring the demand for additional functionality so there’s a lot more to come over the next few months.”

The App is available for Android, Apple and Blackberry smartphones and has been downloaded over 400,000 times. It was the most downloaded Apple app during February.

*it may be possible to credit certain other types of bank account.