Westpac has unveiled a Pay to Mobile service which allows its customers to transfer money using a mobile number.
“With Pay to Mobile, all you need is the mobile phone number of the person you are paying and the rest is easy,” said Westpac general manager for digital, Harry Wendt.
However, if the recipient has not registered for Pay to Mobile, they will need a payment code, the mobile number the payment was made to and their BSB and account number.
The payment will expire at midnight Sydney time three days after it was created by the payer.
'Card on Hold'
The bank has also introduced a Card on Hold feature for debit and credit card customers who lose their card.
The feature allows customers to temporarily lock their card via the bank’s mobile or Internet banking portals.
According to Wendt, this will eliminate the need for customers to call customer service and prevents unauthorised transactions.
“Around 9 per cent of our customers report lost or stolen credit and debit cards annually. With the silly season upon us, we want our customers to know there’s a convenient solution if they lose or misplace their card. What’s more, customers can use Get Cash to withdraw money from any Westpac ATM while their card is missing,” he said.
Get Cash allows customers to withdraw cash from a Westpac ATM without a card.
St George customers have had access to the credit and debit Card on Hold service since February.
The Commonwealth Bank of Australia also offers a similar card on hold feature but only for credit card customers. CBA launched its service in late 2014.