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Natwest claims first with mobile money transfer

Phoning money home

Tags: poland, monilink, natwest

By Julian Goldsmith

Published: 22 December 2008 12:15 GMT

NatWest has launched what it claims is the first international money transfer service over mobile phones offered by a UK bank.

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From this Christmas, customers of its Polish Welcome account will be able to send money home to accounts run by Polish bank PKO BP.

According to a NatWest spokesman, the Polish community in the UK sends home £1bn each year.

The service is commission free to customers and NatWest hopes to roll the facility out to other countries and other accounts.

Customers will need sign up for the service over the bank's website and transfer the cash via the bank's NatWest Mobile Phone Banking service.

The service is provided by Monilink, the mobile money transfer venture between mobile banking company Monitise and payments processing organisation Vocalink.

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