FAQs

We’ve listed out some common questions below. If you have any other queries, drop us an email and and we’ll get back to you as soon as we can!

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What is the Banked App for?


Banked is a simple way to get paid and pay for things with direct bank transfer. Businesses can use Banked to request payment from their customers and clients, whether in person, via email, or through the messaging app of their choice. And everyone can use Banked to ask their friends to pay them back for anything from a group trip to last night’s takeaway. 

Who can use the Banked App?


Currently the Banked App is available to anybody living in the UK. We support payments for all major UK banks and will be increasing our coverage over the coming months.

How much does Banked cost?


The Banked App is completely free to use. Later this year we will be launching our API for larger businesses to integrate the Banked payment system into digital products. We will charge businesses to use this service, but the app will remain free.

Is it secure?


Yes. When paying through Banked you do not need to provide any card numbers or other sensitive payment information to us or the person you’re paying. You authorise the payment directly with your bank. Furthermore, Banked does not touch your money when making a payment, we simply tell your bank where to send it.

Does Banked keep your bank details?


We only store the account number and sort-code of the account to which you tell us to send incoming payments. If you only use Banked to make a payment, we will not keep any of your bank details.

What is a BankedID?


Your BankedID is unique to you, and eventually you will be able to request payments from other users just by sharing this ID, eliminating the need to send around any account details.

Are there any limits on how much I can request?


As a standard user you can only ask for up to £100 in a single payment. If you convert to a business user then we will increase this to £1000. You can make as many requests as you like.

Why does Banked ask people paying for their mobile number?


We send a one time passcode to the payer’s mobile to verify they are a real person. This helps us to guard against people using Banked to make fraudulent payments, and to meet our obligations as a payments firm. We do not use users’ mobile numbers for anything other than this.

My request has a yellow dot by it. What does this mean?


The dots next to your requests indicate the status of the request. A yellow dot indicates that the payment has not yet been completed, a green dot means that the person paying you has successfully authorised the payment, and a red dot means that the payment has either failed to go through, or has been cancelled by the person you have asked to pay you.*


*Some banks are slower than others at telling us when the payment is complete. Just because there’s a yellow dot doesn’t necessarily mean the person hasn’t paid; the bank may not have confirmed to us yet.

How long does it take for me to receive money in my bank account after someone pays?


The majority of payments made via Banked will arrive in your account instantly. In some cases payments may take a bit longer, but in any case should not arrive later than the end of the following business day.

What is that weird number I get / what is the reference number for?


That is the transaction ID for the payment that has been made using Banked. This number is what we will ask you for if you have any queries relating to a payment you made or received via Banked.

What do I do if I can’t see my bank listed when trying to pay?


The way we process payments is still a relatively new technology and some banks are still getting their systems in place. They have until the middle of September 2019 to do this, so if your bank isn’t listed it likely means their systems are not yet ready.

How can I change my phone number or delete my account?


Drop us an email at support@​banked.​com.