HSBC and First Direct are to offer mobile banking
through the Link cash machine network.
The mobile banking platform, called Monilink, will provide 'on
demand', 24-hour access to banking services, including
mini-statements and balance enquiries through their mobile handset.
Users will also be able to top up prepay mobile phones.
The services require users to download free software onto their
phone. As with online banking, once registered and authenticated,
users will have secure access to their accounts - wherever they
are.
Monilink has been developed over the past three years by Link
(which runs the UK's cash machine network) and Monitise, part of
the Morse Group.
The company uses the trusted technology and operational
capability of the Link interchange network which is connected with
37 of the UK's leading retail banks and building societies. This
allows Link's portfolio of services, such as balance enquiries and
mobile prepay top-ups, to be delivered to the broadest group of
customers.
Charges for using the Monilink service will be billed by the
mobile phone provider and appear on customers' regular bills.
Costs will be 20p per balance enquiry and 25p per mini
statement. Mobile phone top-ups will be free.