Lloyds TSB launches mobile banking

Customers of Lloyds TSB can now keep track of their finances via text message, the bank has announced.

10:31 20 December 2004

Customers of Lloyds TSB can now keep track of their finances via text message, the bank has announced.

Current account holders can receive updates from Lloyds telling them their balance and their last six transactions. The option is open to both personal banking and business banking clients.

It is estimated that around 40 million people in the UK now have a mobile phone, with more than two billion text messages are sent every month.

Lloyds TSB internet director, Matthew Timms, said: "Text messaging has clearly taken Britain by storm over the past few years. As a nation on the move, time is at a premium and our need for information is increasing."

Personal banking customers can receive a weekly update, on the day and at the time of their choosing, while business banking clients can receive updates every working day.