Mobile Phone Banking Enters New Era
Wednesday 24th September 2008
Customers of UK banks will soon be able to manage their current and savings accounts through their mobile phone. Customers of a number of banks can already access their account by mobile phone in order to check their account balance and details of their last six transactions, however the first bank to introduce this new service is Lloyds TSB who from next month will allow customers to transfer funds between accounts (within the same bank) using their mobile phone handset. Consumers can download software to their phone with internet access and a colour screen, then enter a six-digit security code before they can view their balance or transfer money between their own Lloyds TSB accounts. The monthly cost of using this service will be £2.50 although to some premium banking customers and student account holders this service will be free up until October 2009.
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