Lloyds TSB announced today that they have a facility for customers to transfer between their accounts via their mobile phones. Not only that the service will also keep your security in check by alerting you if your debit or credit cards are used abroad. Not forgetting that Lloyds already notify their customers by mobile when their bank account does not have sufficient funds to cover a standing or direct debit or if their account falls within £50 of their limit.

Lloyd’s customers will also have the facility to top up pay-as-you-go phones, see their balances and check the last six transactions using their mobile. This service is available from other banks such as NatWest, Alliance & Leicester and HSBC but the Lloyds TSB are the first to allow transfers.

If you are a private banking premier or fee-paying premier customer this service is free but if not the service will set you back £2.50 a month.

Read the full article in the Guardian