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Gadgets & Home Improvement

UOB app lets user draw cash at ATMs

Free service to benefit customer without card
The Straits Times - December 12, 2011
By: Irene Tham
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UOB app lets user draw cash at ATMs UOB's mobile app can be downloaded at the iTunes store from today. -- PHOTO: UOB

IT IS a sinking feeling that is all too familiar for those who have accidentally left home without their wallets.

They go to an ATM to withdraw cash, only to find that they do not have their bank card.

Now, a smartphone application has been introduced that aims to make this problem a thing of the past.

After logging in with the same user name and password used for Internet banking, customers can take out money by clicking on a 'mobile cash' feature.

They can even get their friends or family to withdraw cash from their accounts without having to lend them their ATM cards.

The app has been launched by United Overseas Bank (UOB), which is allowing its customers to download it for free at the Apple iTunes store from today.

It is the result of a year of planning, said the bank's head of group channels Wendy Teo.

'Our mobile application is not just about having Internet banking transactions on the mobile screen,' she added. 'We are essentially putting a (bank) branch in the hands of our customers.'

Account holders can use the app at any of UOB's 600 cash machines in Singapore. The service will remain free 'for now', said Ms Teo. She added that the amount invested in it was 'significant'.

Social worker Paul Teo, 38, told The Straits Times that he suspects he will use the app 'very often', as he has left home without his wallet several times before. 'But what if I lose my phone?' he asked.

UOB said safeguards are in place in case this happens. Customers cannot use the new service to withdraw more than $500 a day. And money cannot be sent to anyone except pre-registered recipients. Only the account holder can add new names to the list by logging on to the bank's website using a valid user name and password.

The UOB mobile app is available for the iPhone and iPad. Smartphones based on the Android, BlackBerry and Mobile Web operating systems will be able to carry it by the first half of next year.

Customers can also use the new feature to view their balances and pay the bills of about 100 service providers belonging to industries that range from telecommunications and utilities, to finance.

After clicking on the app's bill payment function, users simply enter the amount owed and select the service provider they intend to pay.

If they have more than one savings account, they also need to choose which one the money should be debited from.

How others can withdraw money from your account

  • Register family members or friends on the United Overseas Bank (UOB) personal banking website by keying in their names, identity card numbers and mobile phone numbers, as well as your relationship with them. They need not be UOB customers.

  • Log on to the app and type in your user name and password, the same ones you use for Internet banking. The app will then prompt you for a random one-time password, which will be sent to your mobile phone via a text message.

  • Click on the feature called Mobile Cash, enter the amount you want to withdraw - it has to be in multiples of 10 - and select a person from the list of people you previously registered.

    Create a 'withdrawal password', which you must communicate to the person you have chosen to withdraw money from your account via a phone call.

    The withdrawal password has to be communicated by the UOB customer to his appointed person. The bank will not send it to that person directly.

  • Once the transaction is confirmed, the chosen person will receive a text message with instructions on how to withdraw the money using any UOB cash machine. A typical message contains the transaction reference number and the name of the sender. Its instructions are valid for 24 hours.

  • He goes to the cash machine, clicks on the Mobile Cash function and keys in the transaction reference number and withdrawal password when prompted.

    He enters a one-time personal identification number, sent via text message. Once it is confirmed, the money will be dispensed.

  • You will be notified via text message straight away.



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