Spain's Banco Sabadell has launched a service that enables customers to withdraw cash from ATMs using their mobile phones.
Good to see the other banks starting to catch up on the mobile phone service that RBS, Natwest and Ulsterbank have enjoyed for several months now.
The service allows users to use their mobile banking app to get a code for any RBS Group ATM, but that code can also be sent by text directly from within the app to a 3rd party, which could be a family member in need of some cash, or someone you wish to
pay. (as long as its in multiples of £10 of course...)
It would be great to see all the banks offer their customers this service, and then it would be possible to pick the cash up at any ATM. Possibly something Visa could broker as an international service?
There is a difference between these different cardless ATM services. The one from PKO is much more secure, since the app is online and using 2-factor PKI to authenticate.
SMS communication is not safe and can be interferred.
© Finextra Research 2015