RBS launches money transfer app - Banking - News - Moneyfacts

News

RBS launches money transfer app

RBS launches money transfer app

Category: Banking

Updated: 14/03/2013
First Published: 14/03/2013

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

Royal Bank of Scotland has provisionally introduced a banking app which allows customers to transfer money with their Smartphones to friends and families, simply by entering their mobile phone number.

Payments up to £100 per day can be transferred to contacts holding a Visa card, via iPhones, Android and Blackberries.

Customers will enter a phone number, as if they are sending a text message, enabling the payment to be transferred instantly to other RBS and NatWest customers. Recipients who bank elsewhere will be sent a text message requiring them to accept the payment by entering their account details.

RBS was quick to dismiss concerns that the service was not secure, following NatWest's Get Cash app being targeted by fraudsters last year.

It said it had learnt from the incident and stepped up security as a result. A full launch of the app is expected to take place in early April.

What next?

Find out how to choose the best bank account by reading our guides to help you open and manage your bank account

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

Related Articles

Simple measures to improve banking security

The payments industry is gearing up for some big changes in the near-future, with the announcement of some key improvements that should help all of us be more secure when banking online.

Top cashback deals for festive rewards

Savvy shoppers will no doubt be looking to make the most of their hard-earned cash at this time of year, but there isn’t much time left to work out which are the good deals and which are the bad, so it’s time to take action!

Top cashback deals for festive rewards

Savvy shoppers will no doubt be looking to make the most of their hard-earned cash at this time of year, but there isn’t much time left to work out which are the good deals and which are the bad, so it’s time to take action!
 
Close