National Australia Bank unveils Android banking app

The lender, however, has disabled the ability to add new payees directly from the application.

National Australia Bank (NAB) has quietly released a mobile banking application to the Android Marketplace on Wednesday, allowing users of the Google operating system to bank on the go.

According to the application's page on the Android Marketplace, customers can use the free app to transfer funds, pay bills, check account balances and transaction histories and view their Online Trading share portfolio. The application also includes a branch and ATM locator, as well as a foreign-exchange calculator.

The application is protected by 128-bit encryption, but recommends users regularly clear their cache as it may inadvertently store copies of web pages containing customer bank details.

NAB has disabled the ability to add new payees directly from the application and cut off activities that require SMS security code authentication.

The bank declined further comment regarding the development process of the application.

View the full story in ZDNet Australia.