The text big thing in banking

LLOYDS TSB has become the first bank in the UK to launch text message balance updates for its customers.

The new Balance on Demand service means customers can request an up-to-the-minute snapshot of their account, straight to their mobile phone by sending a text message. Customers who sign up to mobile banking are able to use their phone to view their balance, move money securely between their Lloyds TSB accounts, check their latest six transactions and receive a range of alerts to keep them in touch with their finances.

Peter Jackson, managing director of consumer banking at the Lloyds Banking Group, said: "Our customers want more control of their money and they want more information to help them make day-to-day financial decisions on spending and saving."