Mobile technology has improved in leaps and bounds over the past couple of years, people using applications to find and book hotels and flights, arrange restaurant bookings and manage their banking accounts on the go.
Many of the banks offer mobile applications, most of them only offer you access to your own banking account, but the new Barclays Pingit is the one to watch.
Barclays Pingit is available for both Barclay’s customers and non-customers offering a unique banking system where you can send and receive money using your mobile telephone number.
This application allows you to send up to £300 per day and received up to £5,000 per day, you can also find your nearest Barclays branch or ATM as an added convenience.
The Barclays Pingit app is the forward thinking for mobile technology and its success is based on its convenience, enabling you to transfer money to anyone while out and about.
First Direct was launched in January and has had over 10,000 copies downloaded. This has resulted in this being the most popular banking application this year.
The app enables First Direct customers to check their balances and view their last twenty transactions. They are also able to make payments and transfer money between their accounts while on the go.
This application offers excellent security; it was designed in-house offering mobile users the same security you would receive with internet banking.
The NatWest/RBS mobile application still needs a few tweaks and isn’t on a par to the First Direct application yet. But customers can still check their balances, view mini statements, set up and monitor alerts and top up their pay as they go mobile phones while on the go.
An updated version is currently being developed which is guaranteed to be more advanced, enabling NatWest and Royal Bank of Scotland customers to make transfers and payments from anywhere using their smart phones.
The Lloyds TSB mobile app has been around for some time and offers a great range of benefits and advantages to their customers. Lloyds TSB customers can view their accounts including any information and balances direct on their mobile phones. They can see their transaction history and make payments to both new and existing recipients.
Transferring funds between accounts is quick and easy when using this application; you can also check your credit card limits, manage your overdraft facility and find your nearest branch or ATM.
PayPal has become the largest online bank in the world enabling people to transfer money using email addresses. This bank is used for most online businesses offering a secure payment method for customers.
The PayPal app enables customers to send and request money as well as manage their accounts on the go, including withdrawing funds to their personal banking account.
Customers in the US are already enjoying the advantage of taking a photograph of cheques offering quick clearance, which will hopefully be available in other countries soon.