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Interesting. My belief, however, is that the reason to switch is based on faith in the institution and the services it uses. FPS gives a faster response for the account holder to verify that a transaction has taken place, successful or not. BACS on the other hand gives a three to six day transaction cycle with confidence in the success of the transaction increasing over the period. No nonrepudiatly, if such a word exists.

Oh the security aspects of this leave me reeling!

So, the use of a proxy database using mobile numbers or email addresses has hidden benefits, the outcome of the law of unintended consequences. Could, at a stretch and in modern parlance be called an application of tokenisation. Who would have thought!?