If you don’t like carrying your ATM cards with you, or in case you left them at home, it seems that if you’re living in the UK, you will be able to withdraw money from the ATM just by using your smartphone.
This concept isn’t new – in fact a system that used barcode scanning was developed by cash machine operator, NCR, but this particular system is slightly different. Customers of the Royal Bank of Scotland (RBS) or NatWest will now have access to a mobile banking app that allows customers to withdraw a maximum of £100 via this method.
Basically this app comes with a 6-digit code that customers will have to tap in order to reveal. They then key the code into the ATM and the cash will be dispensed. According to the bank, about 2.6 million people have installed the app on their smartphones so far.
While it’s a good idea for those who forget to bring out their wallets or ATM cards, we have to wonder about the security, but we guess that’s what the £100 limit is for, so that the thief will not be able to completely clear out your bank account. So, what do you guys think? Would you like your banks to offer a similar service as well?
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