Lloyds TSB to Launch new Mobile Phone Banking in UK

Lloyds TSB will soon offer a range of banking services allowing customers to monitor and manage their money on a mobile phone. The new Lloyds TSB Mobile Services allow the users to move money instantly between accounts through a Mobile Banking application and receive text messages about their finances. 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.


Using the new service customers can opt to set up ‘High Balance’ and ‘Low Balance’ alerts to advise them when their current account balances reach, exceed, or fall below certain levels. They can then instantly transfer money into their savings account, or move money into their current account as needed using their mobile phone.

Through the Mobile Banking application customers will also be able to top up their own, or other ‘pay as you go’ mobile phones, direct from their current account.

The 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 account. These new services build on Lloyds TSB’s existing Mobile Services, which currently have about four million registered customers.

As part of Lloyds TSB’s student offer, any student account holders will be able to get the Mobile Banking Pack free until October 2009. Lloyds TSB Premier and Private Banking Premier account customers will also receive the services free of charge. For all other customers it will cost £2.50 a month. The weekly Balance Advice text and Overseas Transaction Alert are free for all personal banking customers as long as they have a Lloyds TSB current account and active debit card.


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