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U.K. banks making money on mobile banking
August 20, 2008
FinanceTech.com: As U.S. banks ponder how they can make money from mobile banking, the United Kingdom's top banks have begun charging customers for text alerts, typically the equivalent of $5 or $6 a month plus 50 cents every time a customer requests information via text.London-based Lloyds TSB Bank ($622 billion in assets), the U.K.'s largest retail bank, now charges customers who wish to receive text messages that warn them when they are about to overdraw.
Read also, Study indicates public ready for mobile banking.
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