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Date Published : Thursday, January 31, 2008
National Australia Bank (NAB) has become the latest bank in the country to offer customers a form of mobile phone banking, the financial institution has announced.
SMS banking will soon be launched by the bank, which has said that anyone who can SMS can use the new banking method. The news follows the announcement earlier this week that ANZ will launch a mobile phone banking service.
The SMS banking technology from NAB allows customers of the bank to check their balance, request a mini-statement or transfer money between their accounts using text messages.
According to NAB, the introduction of the banking technology follows successful uses of the system elsewhere in the world.
"SMS banking has been used in parts of Asia and Europe for a number of years now and has become extremely popular," said Andrew Thorburn, executive general manager of retail banking at NAB.
"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."
Mr Thorburn added that SMS banking is "the perfect solution" for this on-the-go account management due to the fact that 85 per cent of Australia's mobile phone users utilise text messaging.
The banking facility will be available from 2008, NAB has said, following roughly two months after the announced launch of M-Banking and TXT-Banking, mobile and SMS banking from ANZ that is due to be introduced to the Australian market on February 11th.
ANZ's mobile banking introduction follows a successful trial of the technology last year in New Zealand.
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