With the new service dubbed Instant Money, Banco Sabadell customers can generate a code which they then receive via text message, allowing them to withdraw the amount of cash previously requested from any of the bank’s teller machines.
Instant Money also allows users to send the code to a second person, which in practice makes this a convenient tool for instant payments of small debts, mobile to mobile, or to send money long distance to anyone with a mobile telephone.
In recent news, Banco Sabadell has launched an NFC payments pilot in partnership with telecommunication services provider Telefonica and BlackBerry.
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