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Cardless cash machines unveiled
- Published on Thursday, 21 June 2012 16:17
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Natwest has unveiled new technology that allows people to withdraw money from a cash machine using their smartphone, as RBS moves towards implementing smartphone wallets.
The innovation has been dubbed “GetCash”, and customers will now be able to request and withdraw up to £100 via an app on their smartphone.
RBS have announced the move ahead of their competitors, although many tech analysts are expecting more banks to implement similar features as the financial world looks to turn the smartphone into a replacement for wallets.
RBS hopes its new feature will allow its customers to get at their cash in a hurry or an emergency, such as if their card has been stolen or simply can’t find it. They are also hoping it will encourage more people to ditch their wallets and simply take their smartphone with them when they go out.
“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,” said head of Natwest’s mobile team, Ben Green.
"It is a really simple and secure way to help our customers get cash whenever and wherever they need it."
He added: "You could send that code as a text to anyone, and they could go to any RBS group cash machine, input it and get themselves out of trouble."
The service is available to every RBS customer who has downloaded the Natwest app. Users of the service will be able to draw cash out from any Natwest, RBS, or Tesco cash machine. The bank said over 2.6 million people have already downloaded the app, which previously only allowed you to check your balance on the go.
The service has been built around a pre-existing emergency facility that allowed customers who had lost their card to withdraw money still if they had found themselves stuck without any cash.
The app reveals a six-digit password that is valid for a short period of time after it has been generated. Customers simply tap in the password into an ATM, and the cash is dispensed.
A banking pressure group, Save Our Savers, has dismissed the release of the app as a “gimmick”.
A spokesperson for the group said: “What about the millions of customers who aren’t able to download this app? Will they end up being disenfranchised by their bank?”
“RBS might be trying to make banking look sexy but if the experience of the last couple of years is anything to go by, it would be better if they stayed dull and steady.”
The app is currently supported on iPhone, Blackberry, and Android phones, as well as the iPad.
In other Natwest news today, millions of customers across the RBS network were victims of a catastrophic computing failure at RBS. Payment transfers, online banking, and balance updates were all unavailable as RBS worked throughout the day to fix the problem.
