Lloyds launches 'balance on demand' text updatesCustomers can have account balance texted to them

01 July 2009

LloydsTSB is boosting its mobile phone banking services with the launch of 'balance on demand' text updates.

The bank says the service enables users to get an up-to-date picture of their account status 24 hours a day, seven days a week.

However, the service is only free to some customers.

Lloyds: service launch a response to customer demand

Lloyds TSB has launched the new service in response to a high level of demand from customers for instant balance updates and the huge popularity of mobile banking since its launch last year. 

The bank says customers using the service are now transferring more than half a million pounds every month.

Costs and conditions

To access balance on demand, most customers will have to sign up for Lloyds' mobile banking service which costs £2.50 per month, although there are accounts that include it at as part of the package.

Additionally, Lloyds says mobile operators may charge for the cost of the text requesting the balance and customers must also have a debit card to use the service.

Which? Money Email

Subscribe to the Which? Money Email for independently reviewed Best Rates and impartial expert advice plus the latest money news and money saving tips.

Or for money saving tips and news of how what's going on in the world of finance affects you, join Melanie Dowding and James Daley for the Which? Money weekly money podcast

For daily consumer news, subscribe to the Which? news RSS feed here. 

If you have an older web browser you may need to copy and paste this link into your newsreader: http://www.which.co.uk/feeds/reviews/news.xml . 

Find out more about RSS in the Which? guide to news feeds.