GetCash: NatWest and RBS unveil cash withdrawals using smartphones
The two banks have launched mobile technology that means you don't need your bank card to take out cash.
NatWest and Royal Bank of Scotland (RBS) customers can now withdraw up to £100 cash from an ATM using their smartphone or iPad.
The new technology, called GetCash, is part of the NatWest and RBS mobile banking apps. Customers get a six-digit code via the app to enter into the cash machine to get their cash. The codes are valid for three hours after requesting them.
Even though the withdrawal limit is £100 per transaction, you can use GetCash as many times as you like in a day, up to your account limit.
The banks say it will help people who have forgotten their bank card or simply don’t want to carry it around with them.
This method can be used at 8,000 RBS, NatWest or Tesco ATMs around the UK.
Both banks’ apps now also offer the option to transfer money via a smartphone and check a mini-statement on the move.
The apps are available on iPhone, Android and Blackberry smartphones as well as the iPad.
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They should combine it with your personal security PIN as otherwise it's another security risk.
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This is just another way of getting an 'emergency' cash code from your bank. You can already get this from your phone by ringing the bank and asking for a cash code. This just automates the process and removes the need for a person to deal with the request - thus eliminating some costs. I doubt I will ever use this service as I don't do phone / internet banking via my phone.
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Who said texts can be intercepted easily? You'd still need to enter other information directly into the cash machine. My point isn't against smart phones, although I can't stand the damn things as they are useless for my primary requirement of having a good phone for PHONE communication, my point is that Apps. themselves are more likely to be hacked or compromised, but a simple text system would work with any phone. Many banks can and will generate emergency withdrawal codes over the phone anyway. This isn't in any way new technology, to be accurate, it's simply a new use of technology.
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20 June 2012