One step forward, two steps back. NatWest has, seemingly, had to pull its app that allowed you to get cash out of a cash machine without needing a debit card. It seems fraudsters could hijack the app and rinse people’s bank accounts for cash without them knowing a thing about it.
It’s all very well allowing people to take cash out without having to carry a wallet, but if it’s not secure it’s just a gaping hole in your banking security. NatWest apparently removed the app as part of a “planned update”, but it certainly looks suspicious in timing with customers complaining of fraud left, right, and centre.
Let’s hope it can plug the holes and get the facility back out there, because being able to withdraw cash with just your phone is awesome, especially as we don’t really have a decent, fully integrated NFC payment system yet. [The Guardian]
Image credit: ATM from Shutterstock