Royal Bank of Scotland Group is launching amobile banking servicethat will allow
13 million customers to access their bank statements via mobile
phone.
As well as using mobile phones to keep track of their money, the
service will allow Royal Bank of Scotland and NatWest customers to
top up mobile pre-pay phone and receive SMS balance alerts. In
future, the service will also allow customers to make payments and
move money between accounts.
The bank said the service would be secure as no data is held on
the customer's phone, and only a handset that is linked to a
customer's account can be used to access information.
The mobile banking application is the latest extension of Royal
Bank of Scotland's e-commerce operation, following the
issuing of card readers to its online banking customers to help
prevent fraud.
The bank said the service will be available to all current and
savings accounts which have a debit card. The software users have
to install on their phones is free and there is no monthly fee, but
there may be a data charge from some network operators.
The service will be provided by MoniLink, which is a joint
venture between ATM operator VocaLink and mobile banking network
Monitise.
Rival bank Barclays
launched a similar mobile application in May, and other banks
are expected to follow suit.