Lloyds TSB Launches Next Generation of Mobile Phone Banking
on: October 14, 2008, 5:55 am
Release Author: Lloyds
Release Summary: Lloyds TSB becomes first to provide mobile phone
bank account transfers in response to growing customer demand.
Release Body: Lloyds TSB has become the first
bank in the UK to offer a range of banking services allowing customers
to monitor and manage their money on a mobile phone.
new Lloyds TSB Mobile Services are unique in
giving customers the ability to move money instantly between accounts
through a Mobile
Banking application and receive text messages about their
Services allows customers to securely move money between their
Lloyds TSB accounts on their mobile phone. They
will also be able to view their account balances, check their
last six transactions and receive a wide range of text alerts,
to keep them up-to-date with their finances.
new service will also include an Overseas Transaction Alert. Subscribers
will receive an alert if their debit card is used to withdraw
cash from a cashpoint or to make a purchase abroad. This alert
is designed to give customers control and peace of mind in always
knowing what is happening on their savings or current
TSB has four million customers registered for its Internet
Banking service and new research2 shows that nearly three
quarters (74 per cent) of people use Internet Banking to keep
track of their finances.
the research also reveals that two thirds (60 per cent) want to
be able to keep tabs on their accounts using their mobile phone,
while half (53 per cent) want to be able to actively move money
between accounts. Over a third (36 per cent) say that being able
to manage their money in this way would help them to keep a closer
eye on their finances.
McGrath, director of current accounts, Lloyds TSB said:
"Technology is evolving at lightning speed and with these
changes come new demands from our customers and new possibilities
for products and services to meet their needs."
research highlighted the growing trend for mobile phones to be
used for a range of purposes other than phone calls. Eight out
of ten (81 per cent) say they send or receive texts; more than
half (57 per cent) use their phone as a camera; a third (36 per
cent) use it as a diary; a quarter listen to the radio through
their phones; and a fifth (19 per cent) access the Internet.
McGrath adds, "Gone are the days when we used
our phones only to call friends and family. Mobile phones are
now part of our daily lives in a way few would have imagined just
a few years ago. Just as Internet banking has taken the country
by storm over the past decade, mobile
banking is now set to change the way we mange our money."
customers are already used to the idea of keeping tabs on their
using a mobile phone, but we’re launching the next generation
of mobile banking that allows people to stay in real control of
their money wherever they are."
Lloyds TSB offers customers a wide range of current accounts,
savings accounts, insurance, loans and credit cards, designed
to meet different customers’ needs.
TSB Bank plc and Lloyds TSB Scotland plc are authorised and regulated
by the Financial Services Authority and signatories to the Banking
Codes. Lloyds TSB Bank plc Registered Office: 25 Gresham Street,
London EC2V 7HN . Registered in England and Wales no. 2065.
Details: Amanda Glover
Media Relations Manager
Lloyds TSB Press Office
25 Gresham Street
020 7356 2021