Text banking ‘could offer debt management solution’
Banking by text message could offer a debt management solution, according to first direct.
The online financial services provider suggests that alerts for incidents such as going overdrawn or when a cheque is about to be paid could help accountholders to avoid incurring penalty charges.
And a spokesperson for the internet bank noted the immediacy with which such alerts could be received, calling mobile phones “a remote control for our lives”.
Rob Skinner continued: “People can be alerted when they are likely to be going into the red - it helps them manage their money a little better.”
He added that those putting spare money towards a debt management solution could also request to be alerted “when your salary has been paid and you might want to move some over to a savings account”.
Financial services provider Nationwide recently advised that half of the UK population has the necessary equipment to carry out their banking online.
This could allow them to implement a debt management solution “wherever they are in the world”, a spokesperson said.
Leave a Reply