Union Bank of India, a public sector lender, today launched its mobile banking service, 'Umobile' enabling its customers perform basic banking activities including account-to-account fund transfer through mobile phones.
The bank plans to roll out the service free of charge for its customers for a period of six months. Customers can transfer funds upto Rs 5,000 per day between two accounts of Union Bank, its Chairman and Managing Director M V Nair told reporters here.
Besides, customers can also make balance enquiry and avail mini-statements using the m-banking service, he said.
"Union Bank is the first public sector bank to offer the mobile banking product. The bank is also looking at to offer other features like bill payments through this service by the end of this year," Nair said.
Customers can avail this service by registering through Union Bank's ATMs by providing mobile number and then download the application from the bank's website.
Union Bank has launched this product in association with leading technology service provider Financial Software & Systems, it said.