NAB mobile banking transactions up 200%

Australian banks’ move to enable consumers to download their apps for free to check bank or savings account balances spurred mobile transaction growth.

There has been a 200 per cent rise in mobile bank account transactions since May, according to one financial organisation.

NAB has revealed it has experienced this rise, while the Commonwealth Bank noted it receives around 1.5 million transactions from this source each month, the Australian reports.

What's more, St George pointed out the amount of business being conducted over the internet on its website is the equivalent to that of 40 physical branches.

The majority of financial institutions enable consumers to download their apps for free in order to check bank or savings account balances, as well as transfer funds across.

View the full story in Which4U.