November 29th, 2007
Martin Kearsley
Welcome to The Payments Podcast, brought to you by Voices in Business and sponsored by Sun Microsystems.
Today, we talk to Martin Kearsley, Chief Innovations Officer at VocaLink, about the wide range of initiatives VocaLink is undertaking to offer continued improvements in the UK Payments industry.
Martin discusses these initiatives with Peter Scott of Sun Microsystems, and talks through VocaLink’s innovations in areas such as Remittances, EBPP (Electronic Bill Presentment & Payment), online payments, mobile payments and secure transaction processing.
If you have any questions, comments or feedback, or if there is a particular Payments-related topic you would like to hear addressed on a future episode, please contact the show’s producer Mike O’Hara at mike@paymentspodcast.com. And feel free to leave comments here on the website.
Click here for a full transcript of this podcast
Listen:
PP010 - Banking Innovation at VocaLink [40:06m]:
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December 28th, 2007 at 10:22 am
There seems to be some confusion between the definitions of the EU and the Eurozone as far as implementation of SEPA is concerned.
I was hoping that the introduction of SEPA would result in lower costs for transferring Euros between, in my case, Germany, and Euro accounts in the UK and that UK Banks would be ‘part of this arrnagement’.
It seems odd - if not ‘financial exploitation’ - that I can transfer Euros from Germany to a UK Euro account for a cost of just around 10 Euro cents but to transfer the other way the charges are significantly higher around £20-£25!
My German Bank have also just informed me that as from 1 January 2008 with the introduction of SEPA - (which nevertheless has been deferred to 28 January 2008), they will no longer routinely accept cheques (specifically UK cheques). To me, this means that instead of the previous Euro 12-Euro 15 cost of a cheque transaction I will in future only be able receive funds from the UK by transfer. This would be fine if, under the IBAN/BIC/SEPA principles the charges were, as specified, at domestic levels of just a few cents - if anything at all. However it appears that the UK Banks will persist in their extortionate overcharging and I will have no alternative than to accept!