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NatWest Get Cash app withdrawn

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10th Oct 2012
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NatWest has suspended its mobile Get Cash app, which allows customers to withdraw money from cash machines without using an ATM card. 

The suspension followed customer complaints about fraudsters stealing money from their accounts using the app. 

The app, launched in June, allows customers who have left their bank cards behind to chose an amount between £10 to £100 by sending them a secure code that is valid for three hours. Customers can then enter the code into a cash machine to get the requested sum.

The bank denied the app's suspension had anything to do with fraud, saying it was temporarily unavailable because of a "planned update" to reduce the amount customers can withdraw from £50 to £30. 

But some NatWest customers told BBC Radio 4's Money Box they had lost hundreds of pounds to thieves who were using the app, but staynig below the £100 maximum withdrawal. The Observer also wrote about a customer who lost around £1,000. 

According to Pat Carroll, the chief executive of security solutions company ValidSoft, NatWest could have prevented the fraud. 

"NatWest’s decision to suspend its Get Cash App was a wise one," he said.  “The security loophole with the Get Cash App would appear to be  a very basic one and similar to attacks on online accounts that use PINs and passwords," he said.

"The problem can be solved by turning the customer's mobile phone into a two-factor authentication device. It is now possible for any bank to protect an app from fraudsters by making it compulsory for customers to register the app to their mobile.

"The technology exists to ensure the bank can rely on the fact the genuine customer is using a genuine phone," he added. 

NatWest said an updated version of the app will be out next week at the latest with the new lower withdrawal limit and security features. 

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