Co-op banks on cellphone concept | 17 June |
Just when you were running out of ideas of how to use your mobile phone, the Co-operative Bank has come up with a new concept -- cellphone banking. The bank has teamed up with Vodafone to offer, what it claims is, the world's first cellphone-based banking service. The system works using the SMS (short message system) text messaging system found on GSM (global system for mobile communications) digital phones. The system allows Co-op bank account holders to dial into the existing interactive computer-based phone banking service and key in their account details, receiving a mini-statement and balance back on their cellphones. According to Dave Smith, a spokesperson for the bank, the SMS messaging facility is part of the phone banking service, rather than a service on its own. As a result, the SMS facility is available to all Co-op Bank customers with a Vodafone digital phone capable of receiving an SMS message. "This system is rather like the teletext home banking system available on Sky (satellite) Television," he told Newsbytes. He added that, instead of users looking at their statements on the TV set, they can now get mini-copies over their digital cellphone. "We now offer the UK's largest phone banking service in the UK" and, according to Smith, the SMS service is another move to make banking "even more accessible to users," while offering a "competitive mobile phone package as well." Terry Thomas, the bank's managing director, said that the cellphone banking information service will allow account holders to assure themselves of their balance and whether a particular check has cleared while out shopping. "It will enable customers to find out instantly if a check has been cleared, or if they can afford to pay for something from their account no matter where they are, or what time of day it is," he said. To launch the service, the bank is in the process of mailing its customers with the offer of an Orbitel 905 digital cellphone free of charge. Normal connection fees and tariff charges are payable by the account holder. (Steve Gold/19960613/Press Contact: The Co-operative Bank, +44-161-832-3456; Reader Contact: Co-op Bank, 0800-500150)
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From the NEWSBYTES news service, 17 June |