The service will be used by Royal Bank of Scotland (RBS) and NatWest customers, allowing them to use their mobile phones to keep track of their money at any time and in any place. Customers signing up to the service will be able to access their account balance and view mini-statements on their mobile phone. In addition, customers can top up any mobile pre-pay phone and receive SMS balance alerts.
Our focus is on providing excellent service to our customers and offering them a choice in how they manage their money. Mobile phone banking will give people another easy way to access account information and even greater flexibility in managing their money at any time, said Paul Geddes, CEO of RBS consumer banking.
The service is secure as data is not held on the customers’ phone and only a handset that is linked to the account can be used to access account information. The software is free and there is no monthly or annual fee, but there may be a data charge from some network operators.
The bank has also revealed plans to add extra services, including making payments and transferring money between accounts, which will be available to all current and savings accounts that have a debit card.
The service will be provided by Monilink, which is a joint venture between UK ATM network operator VocaLink and Monitise.
