Royal Bank of Scotland (RBS) has gone live
with a cardless ATM cash withdrawal as well as an app-to-app
payment service.
RBS was the first UK high street bank to
introduce a mobile banking app for the iPhone at the beginning of
2010.
Now the bank has updated its mobile banking
app offering with GetCash, a feature of the app that can generate a
six-digit PIN which customers of both RBS and its subsidiary
NatWest can now use to withdraw up to GBP100 from ATMs without the
requirement for a card.
“A couple of years ago, we introduced an
emergency cash service. If a customer had their card lost or
stolen, they were offered a six-digit code which they could type
into an ATM to access emergency cash. GetCash works on the same
principle, just via an app,” Ben Green, head of mobile at NatWest
and RBS, told EPI.
The six-digit PIN is valid for three hours and there
is no limit to the amount of PINs a customer can generate per day –
but there is a daily cash-out limit of GBP300.
“It is the exactly the same as when a consumer
uses their debit card to withdraw cash – the daily limit is GBP300.
If the customers goes into a branch to take out more than GBP300,
they would need to identify themselves,” Green explained.
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By GlobalDataThe service will be available at RBS, NatWest
as well as Tesco Bank ATMs – a number that totals 8,000 ATMs.
The RBS mobile banking app, which is
compatible with the iPhone, Android handsets, iPad and
Blackberries, has been downloaded 2.6m times already and the
total value of payments generated via the app has exceeded GBP776m
so far. Transactions made on the app now account for more than
GBP4bn.
Prior to the cash-out app, RBS launched an app-to-app money
transfer service, but Green said the service will stay low-key for
now, until the bank enhances it.
“The app-to-app payment service was launched
last week, it is like our own version of Pingit. It is in its first
phase – but there will be further developments this summer,
focusing on payment services,” Green revealed.
The app-to-app payment service enables NatWest
and RBS customers to enter a person’s telephone number and transfer
funds electronically – but Green did not confirm whether the
service would be opened up to non-RBS and non-NatWest customers
later this year.
