this post was submitted on 09 Nov 2023
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I could imagine something like an IBAN protocol - open an IBAN link as in iban://AB26374838388 directly with your banking app and auto fill the bank transfer menu. Only add the amount of money you want to transfer.
No idea what other implications that would have e.g. for security though
There's a standard that does this in form of a QR code: https://en.wikipedia.org/wiki/EPC_QR_code
True, my bank also supports this. I already saw QR-Codes on some invoices but never used it... will try it out next time.
Main problem I see is that as it stands it's insanely easy to forge a SEPA mandate. Ever had to fill one out? It's literally just a piece of paper saying "I, John Doe, allow XXX to take money for services rendered from my acount AB1234. [signature]". The wonder of legacy processes built for companies with fax-based workflows...
I believe only some "trusted" commercial customers are authorized to turn in SEPA mandates (I know my ISP went into some bankruptcy proceedings and lost their ability to use their SEPA mandates for instance), but still, that makes me somewhat wary about who I give my IBAN to. I'd certainly not put it up online for anyone to see.
Didn't know it was this simple, that's stupid.
I believe though that in today's day and and of banking apps this should be very easily solvable with inapp confirmations
Let's hope the old way dies