New accounts for offshore savers and enhanced mobile banking

by Ray Clancy on October 3, 2011

Mobile banking accessible via smartphones

Offshore savers are set to benefit from a new choice of offshore savings accounts while accessing accounts by mobile is also being made enhanced as two major banks target expats.

Nationwide International, the offshore subsidiary of the UK based Nationwide Building Society, has launched a new range of savings accounts.

These are the Sterling Bonus Access account paying up to 2.40% gross p.a./AER, the Sterling Bonus 1+ account paying up to 2.55% gross p.a./AER, and the Sterling Bonus 95 account paying up to 2.65% gross p.a./AER.

Also new is the Euro Bonus Access account paying up to 2.35% gross p.a./AER and the US Dollar Bonus Access account paying up to 1.60% gross p.a./AER.

It has also withdrawn a number of products including its Sterling Base Rate Tracker Premium account, its Euro Tracker Premium account and its US Dollar Tracker Premium account.

Nationwide International’s other Sterling and US Dollar accounts remain unchanged and continue to be available on the internet by post and telephone.

Meanwhile Lloyds TSB is making its mobile banking service better for customers who want to bank on the move.

It says that its improved Mobile Banking service is available across a wide range of smartphones and enables Internet Banking customers to access their money and manage their accounts using the most commonly used features of Internet Banking and all on mobile optimised screens.

Customers can access Mobile Banking through their smartphone’s web browser simply by logging on with their existing Internet Banking logon details.

It announced that the new service provides Lloyds TSB customers with a variety of faster and easier to use features including the ability to view account details and balances on Lloyds TSB personal accounts, savings accounts and credit cards and see mini statements of the last six transactions on Lloyds TSB personal current and credit card accounts.

It also allows customers to pay bills or existing recipients, set up new payment recipients on most internet enabled smartphones, transfer funds between Lloyds TSB personal accounts or savings accounts and check credit card limits.

This new Mobile Banking service complements the existing package of Internet and Mobile Banking facilities that Lloyds TSB already offers, which include mobile Text Alerts and Money Manager.

‘As an increasing number of people use their mobile phones for day to day activities and purchases, it is only natural for customers to also want to access banking through their mobile phones,’ said Ashley Machin, director of Digital Banking at Lloyds TSB.

‘Mobile technology is evolving at a rapid pace and consumer appetite is moving with these changes. At Lloyds TSB, digital innovation is at the heart of our strategy and we are looking to provide customers with technology to meet their needs, allowing them to access their banking on the move,’ he added.

Lloyds TSB said that it is committed to making Mobile Banking as safe as possible and it uses the latest online security measures to protect customers from fraud.

‘In the very rare event that a customer suffers fraud on their account from an unknown third party, our online guarantee is valid irrespective of the device used by the customer. We will refund the customer in full, provided they’ve been careful, for example, by taking reasonable steps to keep their security information safe,’ it said in a statement.

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