National Australia Bank Launches M-Banking

National Australia Bank customers will soon be able to bank wherever they are and when ever they want, by sending an SMS from their mobile phone.

NAB's executive general manager, retail banking, Andrew Thorburn, says the Bank will soon launch a new service called…‘SMS Banking'. "SMS Banking will allow NAB customers to request their account balance, view a mini statement and even transfer money between their own accounts, all by sending a simple message from their mobile phone," comments Thorburn.

"The service will be available on all of NAB's new personal transaction accounts and credit cards, take just seconds to complete a transaction and be very easy to use. If you can send an SMS from your mobile phone then you will be able to use NAB SMS Banking."

Thorburn says NAB has spoken with its customers and researched international experience before deciding to launch the technology in Australia. "When NAB launched its Smart Everyday Banking accounts last year we said we would continue to look for smart ways to make banking easier for our customers. SMS Banking has been used in parts of Asia and Europe for a number of years now and has become extremely popular.”

“At the same time our own customers have told us that they want to be able to transfer funds and manage their accounts when they are on the go,” he continues. "With an estimated 20m mobile phones in Australia and 85% of mobile phone owners saying they use text messages, SMS Banking provides the perfect solution."

Mr Thorburn said SMS Banking was just one way NAB was using mobile phones to make banking easier.

NAB first started using mobile phones back in 2005 when it launched its SMS Security service for internet banking customers and more than 335,000 NAB customers are now registered. Later this year NAB, Telstra and Visa are also teaming up to deliver a trial where customers will pay for goods or download special offers with a wave of their mobile phone (MPW 105).