SPIN has recently arrived, allowing bank transfers via the recipient’s mobile number or NIPC, making the process more secure. We leave you a list of banks that support this new service.
Available since June 24, SPIN allows payment service users to make credit and instant transfers using the beneficiary's mobile number (if an individual) or NIPC (if a company), instead of the IBAN number.
that way, Bank of Portugal It seeks to facilitate the process and improve the user experience when executing transfers, allowing them to be initiated based on known or easy-to-remember beneficiary identifiers (such as mobile number or NIPC).
SPIN is available, at no additional cost, to all Payment Service users, when initiating credit transfers and instant transfers, on the various channels of their Payment Service Providers, whether remotely (e.g. home banking or mobile applications) or face-to-face (e.g. counters).
Although it has not yet been made widely available by banks, the aim is for it to be implemented by payment service providers by September 16 this year. Check out existing Which ones support SPIN:
- Abanca Corporación Bancária – branch in Portugal
- Treasury and Public Debt Management Agency, IGCP, EPE
- Activobank
- Euro-Atlantic Bank
- Bank Pay Europe
- Portuguese bank BIC
- Banco Bilbao Vizcaya Argentaria – Branch in Portugal
- BBI Bank
- Portuguese Commercial Bank
- CTT Bank
- Bank of Portugal
- Banco do Brasil AG – Branch in Portugal
- Finantia Bank
- Banco Invest
- Global Investment Bank
- LJ Carrigosa Bank
- Portuguese Management Bank
- Banco Santander Tuta
- Banner
- Best - BES Total
- Bison Bank, SA
- BNI Europe - The International Business Bank
- CAIXA Central - Central Agricultural Credit Mutual CAIXA
- Chamusca Mutual Agricultural Credit Bank
- Liria Agricultural Mutual Credit Bank
- Mafra Agricultural Mutual Credit Bank
- Torres Vedras Mutual Agricultural Credit Bank
- Bombaral Mutual Agricultural Credit Bank
- Angra do Heroísmo's Economic Misery Fund, Banking Economy Fund
- Caixa Economica Montepio Geral
- Geral de Depositos Fund
- Haitong Bank
- New Bank
- New Bank of the Azores
- UNICRE - Financial Credit Institution
- Universo, IME, SA
With SPIN, users can initiate transfers quickly and securely. Second Nuno Mateus Coelho, cybersecurity specialist, SPIN will be more secure than bank transfers as we know them through home banking, where “we know that the contact is there [apresentado, aquando da transferência] It is the contact person who is effectively linked to the bank account of the person who will receive the funds.
Have you ever used this new feature for bank transfers?
Emily Brontë is a journalist and feature writer specialising in culture, entertainment, literature, and current affairs. She is dedicated to producing clear, accurate reporting that helps readers stay informed about developments in the UK and around the world.
