Mobile payments

Mobile payments

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79% of adults in the UK now own a smartphone, and this rapid change from a little over a decade ago now means that sending and receiving money is only ever a few clicks away. Here we take a look at the different ways to use banking services using your phone.

Banking apps

Banking apps allow people to have their money at their fingertips, which in turn makes it much easier to manage their money. With a banking app, you get all the features of online banking such as up-to-date transactions and account information. You can also use banking apps to do the following:

  • Send and receive money
  • Move money between your accounts
  • Manage direct debits and standing orders
  • Freeze your card if it gets lost or stolen

One of the added bonuses of banking apps with modern smartphones is that they’re more secure than ever. This is down to the fact that many phones require a fingerprint or facial recognition to be unlocked, meaning that criminals aren’t able to access your account through its details alone.

Our banking app gives you all of this as well as access to our exclusive Loans Marketplace. Check out how our app works in the video below.

Types of mobile payment

Added to these more popular ways of using a mobile phone to transfer money, there are several other methods of sending and receiving money using your phone.


Before banking apps, SMS was the main way to use banking services directly from your phone. Text services are available for people who don’t have a smartphone. Such services usually include:

  • Checking your balance and recent transactions
  • Changing or cancelling standing orders and direct debits
  • Activating a new card

Added to this, we also offer the following services by text related to our Current Accounts:

  • Inform us of a new income or change to existing income
  • Transfer money between accounts
  • Inform us that you’re going abroad and how long for

Customers can also set up their account so that they receive an update of their account balance every time they use their card or whenever money is paid in. When setting up or recovering an account, you can also choose to receive your PIN by text.

Other Apps

Companies such as PayPal also have apps that allow people to use their services directly from their mobile. Such apps usually work in a similar way to mobile banking apps, although depending on the company, some of the features may only be available on a computer. Some apps like Uber also allow people to split bills or share costs for specific services.