HSBC and first direct are gearing up in the move towards mobile banking offering 24/7 access to balance enquiries and mini statements to current account customers.
Text balance-alerts have been around for some time, but the new free and secure service will be a first for UK bankers.
Using MoniLink, a mobile extension of Link, the company which operates the country’s cash machines, account holders will able to securely access their account on the move.
“We see MoniLink as the natural next step for mobile phone banking, offering a snapshot of your finances whenever you need it, day or night,” said First Direct chief executive Richard Kimber.
First direct was the first company in the UK to offer text updates, and HSBC now provides around 40 million weekly or monthly mini statement texts every month.
For a fee, customers can also receive personalised text messages, informing them of incoming cash or warning them when they are about to go overdrawn.
“Having worked with mobile operators and banks for over three years to develop this network we are excited to have one of the worldís largest and most innovative banks leading the service to market,” said MoniLink chief executive Alistair Lukies.
“The UK is a centre of excellence for banking and mobile technology, so it’s fitting that we are launching our first network in the UK with industry leaders that have global reach. We are also developing similar platforms in other countries through our partners.”
The companies now claim that they are able to provide the best current account service for technophiles.
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