RBS adds ATM cash dispensing to mobile banking app

Royal Bank of Scotland and NatWest customers who forget or lose their cards can now withdraw money from ATMs using their mobile banking app.

  0 7 comments

RBS adds ATM cash dispensing to mobile banking app

Editorial

This content has been selected, created and edited by the Finextra editorial team based upon its relevance and interest to our community.

Customers are presented with a 'GetCash' option within the RBS and Natwest iOS, Android and BlackBerry apps that lets them request up to £100.

A six digit PIN is then generated which can be entered at the banks' ATMs at any point within the next three hours to collect the money. Customers can make as many requests as they want in a day as long as they do not exceed their withdrawal limit.



RBS and NatWest already operate an emergency cash service which nearly 60,000 people have used this year. They are now extending the availability of the service to the 2.4 million customers who have the RBS and NatWest banking app on their phone, pitching it not just as a last resort in an emergency but an option for people who want to get cash to others or leave their wallets at home.

Ben Green, head, mobile, NatWest and RBS, says: "We've heard countless stories from customers who've left their wallet behind, or parents who need a quick way to send money across to their children immediately - GetCash means these problems have been solved in a totally secure and painless way."

The move to cardless ATM withdrawals is gathering pace: earlier this week manufacturer NCR unveiled its own system that sees customers initiate transactions through their mobile phones and then scan 2D barcodes on the machines' screens to get their cash.

Meanwhile, the RBS Group has begun letting customers donate to charity through its 8000 ATMs and cash deposit machines. Users can choose to donate amounts between £1 and £150 to charities including Cancer Research UK and Oxfam.

The move is part of a wider initiative involving the Link ATM network, with banks, building societies and cash machine operators agreeing to roll out the feature following a government green paper recommendation.

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Comments: (7)

A Finextra member 

First of all, congratulations to RBS and NatWest team with the UK-first cardless ATM withdrawals. Many people were expecting Barclays to beat them to it. (Could it still be the case of the second mice getting the cheese?..)

The question now is what forms the basis of RBS/NatWest authentication process. If it's just a software, the next question is how long will it take for it to be hacked.

When it comes to banking, the word "secure" is freely inserted into the descriptions of many solutions. However, one should stop and think for a second - why did Visa and MasterCard spent hundreds of millions developing, rolling out and promoting "chip-n-PIN". And why are those two companies are going to spend even larger amounts on pushing "chip-n-PIN" in the USA.

Here's a hint: fraud level associated with "chip-n-PIN" is 0.05%. Fraud level with other payment methods is TWENTY times higher. "Chip-n-PIN" solution is based on "rocket science" secure microcontroller. None of the software-only methods can provide the same level of protection - the mighty Google learnt it the hard way with Google Wallet.

Ketharaman Swaminathan

Ketharaman Swaminathan Founder and CEO at GTM360 Marketing Solutions

The "get cash to others" is a compelling use case (assuming that "others" don't need to be customers of RBS+NatWest). In short, this service seems to permit realtime P2P money transfers from an RBS+NatWest customer to a non-customer who can cash-out simply at an RBS+NatWest ATM without having to have a smartphone, scan a QR code, enroll for a service, or otherwise jump several hoops. So, this service is painless. It's too time-consuming to crack a 6-digit PIN by brute force. In any case, the ATM is subject to video surveillance. So, this service is also secure. Props to RBS+NatWest for launching it. I'm sure it will have many more usage scenarios than parents-children. 

A Finextra member 

I am not sure the service is available to "others" - it seems the party that withdraws cash needs to be a registered RBC/NW customer. That's what Barclays PingIt could/should react to.

Ketharaman Swaminathan

Ketharaman Swaminathan Founder and CEO at GTM360 Marketing Solutions

Hope someone from RBS / NatWest will clarify. Their website for this service, GetCash, is silent on this point. 

A Finextra member 

Come to think of it, if the code is entered manually at ATM, what would stop a registered customer from passing the code on to "others". Hence, you were right - it seems that the service can indeed be "extended" to non-RBS/NW customers (unless the code is generated "live" and must be entered within a specific time period, but even then, you can call the other party and read the code "live" over the phone).

Ketharaman Swaminathan

Ketharaman Swaminathan Founder and CEO at GTM360 Marketing Solutions

The original article had terms like "others" and "children". To me, "Others" means, well, "others", meaning people who had accounts in some other banks, unless otherwise specified, and "children" means too young to qualify for a bank account. Besides, generating a code and calling up the intended beneficiary to convey it - "out of band" of sorts - is how Western Union and ICICI Bank apps work. Which is why I felt that this service from RBS/NatWest permits P2P transfers to non-customers. However, after seeing no mention of non-customers on their website, I've my doubts! 

A Finextra member 

RBS not mentioning non-customers could mean one of two things: (a) what is not expressly permitted is prohibited, OR (b) what is not expressly prohibited is permitted. I am inclined to bet on the latter, in their case.

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