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The phone looks set to claim another victim — the humble bank card seems on the way out, thanks to RBS, Natwest and NCR. You can now request up to £100 using just your phone and an ATM, perfect for emergency beer money.
The holy grail of phone-wallet killing is contactless (or 2D barcode-equipped) payment systems, but you’re probably going to need cash while out and about for a good time longer. The Royal Bank of Scotland and Natwest have come up with an app-based system where you can request up to £100 of cash using just your smartphone. You can then rock up to an ATM,type in a six-digit code and command it to spit out your money.
You can use the system right now, if you’re with RBS or Natwest, just by downloading the app (RBS, Natwest) and heading to a RBS, Natwest or Tesco branded ATM. NCR, a cash machine operator in the UK, also has similar system in the works that scans a barcode on your phone’s screen to authorise cash, which means other banks might follow suit soon too.
Once Google Wallet finally rolls out properly in the UK; Apple pushes its Passbook with iOS 6, and when NFC eventually gains serious ground in-store, we’ll no longer need a wallet it seems, even if you need good old cold hard cash. [BBC]
Image credit: ATM from Shutterstock
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Anyone know if this is supposed to work on Android too?
I have the Natwest app installed but can’t seem to find the “Cash machine” option anywhere?
Seems like an awful lot of bother to cater to people who forget their wallet but not their phone…
So once your credit cards, cashpoint cards, keys, loyalty cards, music, and photos are stored on one device…when it runs out of battery or gets lost/stolen, you’re up s**t creek without an iPaddle.
This might just mean instead of carrying around a phone + wallet, they’ll be carrying around a phone + charger!
some people lose their wallet. some people never have charge. neither of these are me.
So let me get this straight…. if someone steals my NCR capable phone, they can steal up to £100 per ATM transaction from my account.
I’m hoping they still keep pin numbers for added security.
The mobile app requires you to enter a code to log into it.
But is still another front for attack. Sometimes convenience isn’t worth the inconvenience.
On the plus side, at least your card can’t be cloned.
Ok so I enter a code which then gets me into the ap, after that I can then access my account.
Or I can take my card out of my wallet and insert it in the machine, punch in my four numbers and get my money that way.
Personally i’d rather just use my card
App*
No thank you, until they rollout Iris scanners, I’ll stick to the long winded card and 4 digit pin number.
I think I’d rather run the risk of having my phone stolen than my eye. :p
But we all mostly have one phone and two eyes, so there’s redundancy in the Iris idea!
I’m totally wary of having my phone any way connected to my finances, apart for the monthly direct debit for it.
App is only on Android at the moment, coming to Iphone soon apparently.. But here’s the real kicker, It’s only available to RBS Scotland customers.. Looks like I’m moving to Scotland! (seriously, I forget my wallet daily, I need this)