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15th August 2016 - ‘Simple tips can help prevent costly payment mistakes’, says Islwyn MP

‘Simple tips can help prevent costly payment mistakes’, says Islwyn MPThe MP for Islwyn, Chris Evans, has thrown his support behind the ‘Pay Your Way’ consumer advice campaign to raise awareness of the simple measures which can be taken to prevent costly online payment mistakes.

According to Payments UK, the trade association for the payments industry who are running the campaign, as online payments have become more popular it is important that people understand how to avoid sending money to the wrong place. Once money has been sent to the wrong recipient it can be very difficult to get back.

Their research has shown that the top reasons mistakes are made are wrong account numbers and sort codes being used, as well as sending to an old address, selecting the wrong recipient from a list, or receiving wrong account information in the first place.

Their top tip to avoid mistakes are to double check the correct account information has been received and typed in, check the reference, keep details up to date, send small value test payments, and ensure payees are listed appropriately.

Mr Evans said: ‘Thankfully most online payments are quick, easy and successful but sometimes errors happen and when they do it is often as a result of a very simple and avoidable mistake which can be very costly and stressful.

‘I fully support Payments UK in their campaign and I would urge anyone who uses online payments and banking to review their advice and always make sure to double check every detail.’

Further information about the Pay Your Way campaign can be found at www.payyourway.org.uk.

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