An authorised push payment is simply a bank transfer an individual or business makes directly to the recipient. Authorised push payments are usually carried out on an online banking platform or app, where the payer will input the recipient’s account details and knowingly transfer money.
As the name suggested, authorised push payments are:
- Authorised: the payer fully intends to send their money to a recipient
- ‘Push’ payments: the payer initiates the payment, as opposed to a ‘pull’ payment, where funds are taken from the payer’s account by the recipient
A legitimate authorised push payment could be made for several reasons. The payer may want to transfer money to invest, pay a tradesman, or even send money to family and friends.
APP fraud is so powerful as it effectively tricks the target into willingly parting with their money. This differs from unauthorised fraud, where the fraudster takes funds from your account without permission.
