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HSBC and First Direct to offer banking on mobiles

HSBC and First Direct are to offer mobile banking through the Link cash machine network.

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.

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