More than 450 Million Text Messages Sent by UK Banks in 2013

A study by the British Bankers Association revealed that mobile banking in the UK finally caught on. Mobile users doubled their transactions using apps and banking websites. But they also took advantage of bank’s text messaging services.
For example, HSBC said 64% of the text messages they sent to customers were low balance warnings. But balance updates are just one of the many ways banks are using text messages. With your consent, your bank can send you a message for:
- Your balance has fallen beneath a specific amount,
- Your balance has reached a specific amount,
- A deposit has been made in your account
- A withdraw occurred from your account
This huge number of text messages is part of a 105% increase in mobile banking transactions in 2013 according to the British Bankers Association. Another study by PricewaterhouseCoopers found that 67% of mobile users from the UK, US, and China used their devices at least weekly to pay bills or other banking tasks.
With the recent launch of the Paym system mobile banking is likely to see to even greater increases. If you haven’t heard HSBC, the Bank of Scotland, Barclays, Lloyds Bank, Halifax, Santander, and TSB are offering their customers the ability to pay bills simply using a text message. To find out how to register and use the Paym system read the website or contact your bank.
Have you texted anyone a payment yet? If not, what’s the main reason you haven’t? Leave a comment if you have any experiences of mobile banking that you would like to share.
Related Articles
Car Buyers are Turning to Mobile – and They Want Car Dealerships to Text Them!
Car dealerships are always looking to find new ways to market their inventory. Online marketing has become standard and some use social media. A recent study in US wanted to see if car buyers were actually using social media in the buying process or not.
Three Things You Must Do Right in Your SMS Marketing
SMS messaging can be one of your more effective marketing techniques, but only if you do it right. A poorly executed SMS marketing campaign could have disastrous results for your future budget, and for your organisation.
Hefty fines for companies not following opt in SMS messaging policies
Product Launches: A Business SMS Use Case
America set to send a text message to every US mobile phone
Notifications & Reminders: A Business SMS Use Case
How SMS Marketing can Save Workplace Training Providers Time & Money
How work based education providers can take advantage of SMS Messaging to boost attendance and reduce the time and costs associated with arranging and re-arranging training sessions. Read this article to learn how private education and training companies can benefit from simple SMS confirmations and reminders with some illustrative examples. We also briefly explore the possibilities offered by automated responses using SMS keywords in conjunction with a virtual mobile number.
Pizza birthed the SMS message
5 Top Converting Power Words for SMS Marketing
What Your Customers Want From SMS Marketing
Mobile marketing offers an unprecedented access to your customers virtually any time, anywhere. This is particularly true for SMS marketing because it is “always on”. Customers don’t have to be surfing the web, or using an app to receive messages. Instead, they see the marketing messages right alongside ones from their friends and family.