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Lloyds TSB launches 'on demand' text balance updates

29 June 2009  |  9582 views  |  2 mobile

Lloyds TSB has become the first bank in the UK to launch 'on demand' text message balance updates for its customers.

The service provides customers with their latest balance, as well as detail of their last six transactions - and the texts can be requested whenever and wherever they are needed.

The bank says the service has been launched in response to a high level of demand from customers for instant balance updates.

The package is available as part of Lloyds' suite of mobile banking services which enables subscribers to monitor their account balances, transfer funds between accounts and set text alerts for pre-determined 'high' and 'low' balance amounts. Lloyds says customers using the service are now transferring more than half a million pounds every month.

The complete mobile banking package is charged out to users for a fee of £2.50 per month.

Comments: (2)

A Finextra member
A Finextra member 29 June, 2009, 03:36

I'm not sure what is so newsworthy about this story given it is done all over the world, surely Lloyds can't be the first in the UK to do this?

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Paul Penrose
Paul Penrose - Finextra - London 29 June, 2009, 09:26

It's the balance 'on-demand' element that makes it stand out from simple pre-set alerts.

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