Union Bank launched mobile banking service

A public sector lender, Union Bank of India, has launched its mobile banking service, 'Umobile' which will enable its customers perform basic banking activities including account-to-account fund transfer through mobile phones.

Its Chairman and Managing Director M V Nair told reporters that bank is also planning to roll out the service free of charge for its customers for a period of six months. Customers will be able to transfer funds up to Rs 5,000 per day between two accounts of Union Bank.

He added in addition, it will also enable for customers to make balance enquiry and avail mini-statements using the m-banking service.

"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 use this service by registering through Union Bank's ATMs by providing mobile number and can download the application from the bank's website.

Union Bank has launched mobile banking in collaboration with leading technology service provider Financial Software & Systems.