We’ve all been there. You’re at the club. You burned through all your cash. You spot the girl of your dreams – a girl who looks desperately thirsty, and whose undying love you can surely secure with the gallant delivery of a gifted drink. Isn’t drunk logic amazing? Reaching into your wallet, you’re horrified to realize that not only is your cash supply gone, but you’ve left your cash card card at home. Your future happiness with dream girl is crushed – even before it had a chance to begin – all for the lack of a little piece of plastic.

Okay, perhaps we’re being overly dramatic. However, we have all experienced the annoyance of being stranded, cash-less, without our debit cards. At its worst, this can mean significant delays of urgent matters – at best, it’s still extremely irritating.

Mobile Money App

Thanks to some ingenious thinking, you’ll never have to experience this scenario again. The Royal Bank of Scotland (RBS), as well as NatWest and cash machine operator NCR, has created solutions. Each company has created a mobile money app to get you the cash you need, even when your debit card is nowhere to be found.

How the Mobile Money App Works

Depending on which app you choose, you’ll have two options which will allow you to withdraw cash card-free. RBS and NatWest have opted for a pass-code app. Upon signing into their password-protected apps, these companies generate a six-digit pass-code, which you enter into an cash machine in order to withdraw your cash. You can generate as many pass-codes as you need each day, as long as you stay within your regular daily withdrawal limits.

If you choose the mobile money app from NCR, you’ll simply scan a bar code to withdraw cash.

Either way, a mobile money app means that as long as you have your smartphone with you, you’ll never again worry about losing, forgetting or accidentally destroying your cash card in the laundry.

Since the apps are password-protected, theft is impossible in the event your phone is stolen. You can, however, give your pass-code to strapped-for-cash friends, spouses and children. They simply enter the pass-code into an cash machine and your loan falls into their hands. Thankfully, the apps allow you to pre-determine how much money these borrowers will receive, so you don’t have to worry about any unauthorized shopping sprees.

What a Mobile Money App Indicates

Trend-watchers have long been predicting the day when cash transactions go the way of the dinosaurs. In fact, that day has already partially come. More transactions are made electronically than ever before, and cash has already become a bit passe. Checks are practically antiques, with very few businesses accepting them and even fewer consumers carrying them around.

While we didn’t foresee a world without plastic becoming reality quite this soon, the new breed of mobile money app indicates just such a scenario. Smartphones have slowly but surely been replacing all but a few of our daily activities. Given the security and simplicity of being able to withdraw cash via a mobile money app, it’s only logical that they would come to replace cash and plastic as well.

Have you used a mobile money app, what has your experience of it been like, good or bad?


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