The longstanding and sophisticated nature of the UK banking system means that British banking consumers have always enjoyed a range of benefits with their current accounts. From interest-free overdraft facilities to complimentary iPods when you open a new account, banks in Britain have employed a variety of tools to attract consumers. However, more recently, financial consumers in Britain have begun to express interest in more unique current account services and benefits - including the opportunity to look at your bank balance on your mobile phone.



Recently, online banking celebrated its tenth birthday. Today, online banking is a standard feature offered with current accounts from many banks and building societies in the UK, enabling any current account holder to check their balance and manage their monthly outgoing and incoming money from anywhere in the world.

Furthermore, the facilities found on the mobile web are becoming increasingly complex, and rising numbers of people are beginning to use their mobile phone to find things they would traditionally have searched for on a regular web-connected computer - from checking train times to buying a last minute birthday present for that special someone! And while the technology that allows consumers to check the balance of their current account on their mobile phone is in place, it is not yet widely available.

Recent findings from Alliance & Leicester claim that over half of 16-24 year olds would be willing to organise their activities via mobile phone if the technology was made available to them. According to the survey, another 44 per cent said that they'd be happy to use their phone to check their bank balance before buying goods and services and a further 27 per cent said they'd be willing to use their mobile to check their finances while they were on holiday abroad.

Helen Palmer, Current Accounts Manager at Alliance & Leicester, commented:

"Mobile phones have fast become a central tool in everyone's day-to-day lives and being able to use them for extended services like managing your finances will be extremely convenient for very many people ... Although technology is still relatively new, it's great to see young people embracing it to keep a check of their finances and manage their money more effectively."

Being able to check your current account balance from a mobile phone would add to the convenience of online banking. Not only would you be able to check your current account from anywhere in the world, you'll be able to do it anywhere - on the street, in the cinema or in a restaurant - so you'll obtain a freedom that's not afforded by regular computers. The Alliance & Leicester survey reveals the potential of offering a mobile current account service - and, as a result, is likely to spur on the UK's leading banks to add this service to their repertoire sooner rather than later.