Need a cash machine? Use your mobile
A new "mobileATM" service claims to offer customers all the benefits of a cash machine but from the convenience of their mobile phone.
Although phones obviously won’t be able to dispense cash all of a sudden, they will be able to perform most of the other actions associated with a normal cashpoint, including buying mobile top-ups and balance enquiries.
The service, which is set to be launched later this year, is designed to mimic the screen of an ATM but on a mobile handset, in order to simulate the experience customers are familiar with.
The system also uses banking grade encryption technology and has developed security measures to remove the threat of password theft through 'phishing' or trojan attacks.
To use the service, all consumers have to do is download an application onto their phones, which can be done via text message or at branches of the Carphone Warehouse.
Once installed, mobiles users can gain access to their accounts whenever their phone has a signal.
"This launch gives consumers far greater control of their money, delivering a personal finance tool that literally slips into your pocket," commented Karl Shields, of cash machine operator Link. | 
