Lloyds launches balance on demand text service

Mobile phone

Customers of Lloyds TSB are now able to receive bank balance updates via text message as part of the bank’s new Balance on Demand service.

While the bank’s customers have been able to monitor and manage their accounts via their mobile phones for a while, they will now be able to request their latest balance, and details of their last six transactions.

Lloyds is the first bank in the UK to launch this type of service. All customers who are signed up to mobile banking can use the Balance on Demand service, which also allows them to move money securely between their Lloyds TSB accounts.

Mobile banking is currently free for customers with premier or private banking accounts as well as students, but for everyone else the service costs £2.50. You will also be charged at your standard network rate to make a text request for your bank balance.

Peter Jackson, managing director of consumer banking at Lloyds, says: “With our range of mobile banking services we’re able to give customers the help they need to keep an eye on their accounts, and make the most of their money. And all through a mobile phone.”

What do you get for your money?

Text alerts:

* Request your latest balance via text.

* Find out when you are near or over your account limit, or when when you exceed, hit or are near to hitting your own pre-agreed limits.

* Alerted when your debit card is used abroad to make a purchase or withdraw money.

* Get a weekly account summary, including your last six transactions and your balance.

Mobile banking services:

* See your up-to-date account balance and your last six transactions.

* Transfer money between your Lloyds TSB accounts.

* Top-up pre-pay on up to five mobile phones from your current account.